What is Probate?
Probate is a legal process in which the court confirms that a will is legal and valid, giving the executor formal authority to distribute the estate and settle debts.
Why do I need probate?
Probate ensures that the estate is distributed according to the law and your wishes, and protects (defends) the executor and beneficiaries from legal disputes.
What If Probate is not done?
Family members may not be able to withdraw funds from bank accounts or handle real estate transfers smoothly, (which may cause delays or impediments in the distribution of the estate due to legal obstacles) leading to financial difficulties. At the same time, disputes may arise between heirs, leading to legal proceedings.
Benefits of advance planning
(Ensure) protection of the executor’s rights in accordance with the law
Avoid disputes and (unnecessary) delays in estate distribution
Risk warning
Heirs may face financial hardship due to frozen funds
Possible (legal) litigation between relatives over the distribution of the estate