Priority #1

Before administering the distribution of these assets, a probate must first be granted. This is the legal process of proving the will in court and acknowledged as a legal or official public document.

Priority #2

The probate assigns the executor or the representative that is specifically named in the will who has the legal power to dispose of the properties specified by the testator. The process can still be contested.

Priority #3

When it comes to handling estate after death, the executor must notify the beneficiaries of the possessions and properties as well as the interested parties. The estate must also be advertised so that creditors will be informed if there are any.

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What You Must Know About Wills

Making a will is very important to ensure that your properties and other possessions will go to the rightful beneficiaries or to the people you intend to when you die.

Why it's Important Now

It is also significant that the piece of content on wills is written and stated. You can ask assistance from the professionals when it comes to this matter. This will ensure proper provisions are made for the dependants. 

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When making this witnessed document, it is important to make an updated list of all the assets so that it will be properly distributed. The requirements must also be met to consider will valid.

It must be in writing, the testator or the person making the will must be over 18 years old if single if married being under 18 is accepted, and must be in the proper state of mind. There should also be two witnesses who will respectfully acknowledge it and will see you sign it.

Take note that the signature should be in the last portion of the will. The piece of content on wills must also include the name and address of the testator as well as those of the executors who will make your wishes. The document should also be dated.

The personal representative

He must make an effort to notify or contact known creditors and make arrangement to settle the debt charged on the properties. The agent is also responsible for contacting all banks where the deceased has accounts. Other physical assets must be kept properly.

The moment the personal representative has the accurate list of all the assets and debts, then the latter can start paying the amount outstanding against the estates.

The agent must make sure that the list is exact and correct or else he or she will be personally liable for any errors.

After all, obligations have been settled, then the distributions of the estate to the beneficiaries can commence. Following all these necessary steps in handling property after death will make the whole process run smoothly.

Unnecessary problems will also be avoided. As a testator, you must also make sure that your executor or personal representative is someone that you can trust.

This will provide you the peace of mind that all your possessions and real properties will be distributed to the people you intend to. It is also significant that you are aware of the different technicalities when it comes to making a will.