Who Legally Owns an Estate During Probate?
Who Legally Owns an Estate During Probate? During the probate process, who legally owns an estate depends on a number of factors. Usually, the first person to receive the inheritance is the person closest to the deceased. This person's first right of inheritance is considered the simplest, and may not include any other people or properties. The heirs-at-law are typically the spouse, children, and grandchildren of the deceased person. The closest friends are not normally added to the list of beneficiaries. Probate During probate, the deceased person's property is transferred to the personal representative, who is also called an administrator. The administrator must then follow the rules of the law and pay any debts that the decedent may owe. The estate may need to sell some of its assets to pay off debts and expenses. The estate will also need to pay taxes and funeral expenses. The personal representative will distribute property according to the laws of intestacy. Distributing ...