What is probate?

“So, one of the things when I’m talking with estate planning clients is they have a question about, ‘What is probate?’ Probate is the legal process of transferring a deceased person’s assets to whoever they’re supposed to go to. Whether that’s file last, will, and testament, if they have one of those. If not, then it would be pursuant of what we call the intestacy laws of the state of Tennessee, which just means the laws that dictate who gets what when you don’t have a will.  That process really is a it’s a sort of a 6 to 9 month process, at a minimum. Depending on the circumstances, whether there are debts and what the situation is with the beneficiaries and things like that. It is takes place when you file the will, or a petition, with the probate court in the county where the person lived. And the judge reviews that, the court issues letters of testamentary or letters of administration, which are an official document that allows the person who’s nominated in the will,s as the personal representative to be in charge of the estate, and gather up assets, and pay off creditors. And then ultimately when things are ready to be resolved, distribute the net assets to beneficiaries. Often probate can be intimidating for clients, but we’re happy to help people through that process.”