Advertising
Advertising

What Happens With Your Will? Understand the Probate Process

What Happens With Your Will? Understand the Probate Process

Most people know that having a will is important. It allows you to express how you would like your assets handled after your death, and can include important information regarding the custody of any surviving children. Nevertheless, many people do not understand how a will is executed.

After you pass on, your will is managed through a local probate court. Consequently, many are not prepared for what’s ahead. Here is an introduction to the probate process and how it works.

Advertising

1. Your Executor Takes Charge

As part of your will, you should have identified an executor. Your executor files all necessary paperwork with the probate court. Moreover, according to Steve Bliss, a probate attorney, “the executor will provide the court with information regarding your current debts and assets, and your instructions regarding who should inherit certain property.”

Accordingly, once the filings are complete, official notification of your death will be released to all interested parties. The executor locates and secures all of the included properties, and manages all assets throughout this process. Conversely, they will also determine if any assets should be sold to cover any remaining debts.

Advertising

2. Short Term Support Requests

Depending on the state, your immediate family members may have the right to request funds from your assets to support their basic needs. For example, funds may be made available to provide basic support for your children, such as food and housing. The court makes decisions regarding these requests alone, and requests can be denied.

3. A Mandatory Waiting Period

Ordinarily, your assets cannot be provided to your heirs until the court releases the executor to do so. This waiting period ensures all of your final bills, such as remaining debts and funeral expenses, have been paid before any property is distributed. Even once all debts are settled, additional time is required to provide any creditors, whom the executor may not have been aware, have the opportunity to make a claim against the estate.

Advertising

4. Completing the Process

Only after all of these requirements are met can your assets be distributed to your heirs. Consequently, the executor will then take any necessary steps to legally transfer the property to the designated heir. Any payments or donations made to charitable organizations are also managed by the executor. Once the entire process is complete, the court releases the executor from their duties.

The total amount of time required may vary even when everything works smoothly. It is not uncommon for the probate process to take close to one year under the best of circumstances. If the will is contested, or if the estate is particularly complex, it can take much longer to finish.

Advertising

5. Contested Wills

A will may be contested if it is impossible that the will is not completely valid. This can include issues regarding how the document was completed, whether the person who created the will did so while under undue influence, or if the person may not have been of sound mind when it was created. If the will is contested, then the court will need to render a decision regarding the validity of the will, and if any other party has a reasonable claim to the assets. Depending on the state, a jury trial may even occur.

A contested will can take a very long time to complete the probate process. If the will is rendered invalid, then arguments may occur regarding who should receive which assets.

Can Probate Be Avoided?

If you want to avoid your will going through the probate process, it is wise to consider placing your assets in a living trust. Once part of the trust, the assets are legally no longer your property. Instead, the assets are owned by the trust, and you function as the trustee. This allows you to manage the assets as you see fit. You can designate a person to assume the position of trustee upon your death, allowing them to take immediate control of all of the assets within the trust. Unlike assets in a will, the assets in a trust are not subject to the probate process.

More by this author

record player and mac Streaming or Downloading: Which Is the Best Use of Your Mobile Data? person on laptop Not Using a Digital Marketing Strategy? Here’s Why You’re Missing Out 2 men grappling Interested in Martial Arts? You’ll Need Gear Want to Improve Your Fitness? Consider Martial Arts wrapped present How to Select a Great Gift for Anyone and for Any Occasion

Trending in Communication

1 How to Develop Mutual Respect in a Relationship 2 If Money Can’t Buy Happiness, What Can? 3 Having an Emotional Breakdown? 15 Ways to Re-Center Yourself 4 10 Simple Ways To Always Think Positive Thoughts 5 What’s the Easiest Language to Learn for English Speakers?

Read Next

Advertising
Advertising
Advertising

Last Updated on September 17, 2019

10 Simple Ways To Always Think Positive Thoughts

10 Simple Ways To Always Think Positive Thoughts

Positive thinking can lead to a lot of positive change in your life. Developing an optimistic outlook can be good for both your physical and mental health.

But sometimes, certain situations arise in life that makes it hard to keep a positive outlook. Take steps to make positive thinking become more like your second nature and you’ll reap the biggest benefits.

Here are 10 ways to make thinking positive thoughts easy:

1. Spend Time with Positive People

If you surround yourself with constant complainers, their negativity is likely to rub off on you.

Spend time with positive friends and family members to increase the likelihood that their positive thinking habits will become yours too. It’s hard to be negative when everyone around you is so positive.

Advertising

2. Take Responsibility for Your Behavior

When you encounter problems and difficulties in life, don’t play the role of the victim. Acknowledge your role in the situation and take responsibility for your behavior.

Accepting responsibility can help you learn from mistakes and prevent you from blaming others unfairly.

3. Contribute to the Community

One of the best ways to feel good about what you have, is to focus on what you have to give.

Volunteer in some manner and give back to the community. Helping others can give you a new outlook on the world and can assist you with positive thinking.

4. Read Positive and Inspirational Materials

Spend time each day reading something that encourages positive thinking. Read the Bible, spiritual material, or inspirational quotes to help you focus on what’s important to you in life. It can be a great way to start and end your day.

Advertising

Some recommendations for you:

5. Recognize and Replace Negative Thoughts

You won’t be successful at positive thinking if you’re still plagued by frequent negative thoughts. Learn to recognize and replace thoughts that are overly negative. Often, thoughts that include words like “always” and “never” signal that they aren’t true.

If you find yourself thinking something such as, “I always mess everything up,” replace it with something more realistic such as, “Sometimes I make mistakes but I learn from them.”

There’s no need to make your thoughts unrealistically positive, but instead, make them more realistic.

6. Establish and Work Toward Goals

It’s easier to be positive about problems and setbacks when you have goals that you’re working toward. Goals will give you motivation to overcome those obstacles when you encounter problems along the way. Without clear goals, it’s harder to make decisions and gauge your progress.

Advertising

Learn to set SMART goals to help you achieve more.

7. Consider the Consequences of Negativity

Spend some time thinking about the consequences of negative thinking. Often, it can become a self-fulfilling prophecy.

For example, a person who thinks, “I probably won’t get this job interview,” may put less effort into the interview. As a result, he may decrease his chances of getting the job.

Create a list of all the ways negative thinking impacts your life. It likely influences your behavior, your relationships, and your feelings. Then, create a list of the ways in which positive thinking could be beneficial.

8. Offer Compliments to Others

Look for reasons to compliment others. Be genuine in your praise and compliments, but offer it frequently. This will help you look for the good in other people.

Advertising

9. Create a Daily Gratitude List

If you start keeping a daily gratitude list, you’ll start noticing exactly how much you have to be thankful for. This can help you focus on the positive in your life instead of thinking about all the bad things that have happened in the day.

Getting in the habit of showing an attitude of gratitude makes positive thinking more of a habit. Here’re 40 Simple Ways To Practice Gratitude.

10. Practice Self-Care

Take good care of yourself and you’ll be more equipped to think positively.

Get plenty of rest and exercise and practice managing your stress well. Taking care of your physical and mental health will provide you with more energy to focus on positive thinking.

Learn about these 30 Self-Care Habits for a Strong and Healthy Mind, Body and Spirit.

More About Staying Positive

Featured photo credit: DESIGNECOLOGIST via unsplash.com

Read Next