Probate is process by which a title to property is passed from someone who died to his beneficiaries or heirs, creditors paid and the property gathered and distributed. A probate hearing may be necessary in order to transfer property to another person. This applies to many kinds of property; real estate, stocks and bonds, bank accounts and other types of property. These items will be transferred to the beneficiary of the owner upon the owner's death, if there is a will. If there is no will, the owner's heirs will receive the property upon determination by the Probate Court of who are that person's heirs and, the property owned. Many issues relating to the case will be brought forth during the first hearing. If a well drafted Will exists the first hearing is normally very brief (and is the only hearing) and the process simple.
If there is no Will and substantial assets were owned the process is very likely to be much more complex and expensive. For more information about probate, or any aspect of estates or wills, consult a licensed attorney.
Contact Charles Kennedy by email: ckennedy@TexasWillplanner.com.
