Don’t Leave Your Legacy to Chance: Probate vs. Intestate Succession Explained
Probate and intestate succession are both legal processes that deal with the distribution of a deceased person’s assets. However, there are some key differences between the two processes.
Probate is the legal process of distributing a deceased person’s assets and paying off their debts, regardless of whether they had a will. It is overseen by a probate court, which is a specialized court that handles matters related to wills, estates, and trusts.
Intestate succession is the legal process of distributing a deceased person’s assets if they did not have a will. The state will determine how the assets are distributed, according to state law.
In general, probate is a more complex and time-consuming process than intestate succession. This is because the probate court must review the will and ensure that it is valid. The court must also identify and notify all of the beneficiaries named in the will, and then distribute the assets according to the terms of the will.
Intestate succession is a simpler process because the state has already established the rules for distributing the assets of a deceased person who did not have a will. The state will identify the deceased person’s heirs and then distribute the assets according to state law.
If you want to control how your assets are distributed after your death, it is important to create a will. A will allows you to specify who will inherit your assets and how your estate will be administered. It can also help to avoid potential disputes among your heirs.
This information is for general guidance only and should not be considered legal advice. Contact us today to discuss your specific situation.
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