This document is an agreement reached by all the heirs as to how an estate should be distributed. A FSA, for example, might be used to correct the effects of a poorly written will or to resolve probate disputes. In probate matters, the Court does not have the authority to either approve or disapprove a FSA. After all parties sign the agreement and it is filed with the Court, it acts as a binding and enforceable contract.
Muniment of Title provides a streamlined procedure for probating a will, and is the only means by which you can probate a will more than four years after a decedent’s death. With this process, the will is filed for probate, but the Court does not appoint an executor or administrator for the estate. Instead, once the Court signs its order establishing the will as the decedent’s true last will, a certified copy of the will and the court order can be used to transfer title in any property owned by the decedent to those listed in the will. The will and the order serve as an equivalent to a new deed to any real estate.
In other words, probate is a process with the purpose to prevent fraud after someone’s death. It is simply a way to freeze the estate until a judge determines the will is valid, that all relevant people have been notified, the property in the estate has been identified and appraised, the creditors and all taxes have been paid, and the assets of the estate have been distributed according to the wishes of the decedent.
After probate is granted, executors are empowered to deal with estate assets, including selling and transferring assets, for the benefit of the beneficiaries. For some transactions, an executor may be required to produce a copy of the probate as proof of authority to deal with property still in the name of the deceased person, as is invariably the case with the transfer or conveyance of land. Executors are also responsible for paying creditors and for distributing the residual assets in accordance with the will. Some Australian jurisdictions require a notice of intended distribution to be published before the estate is distributed.[26]
When all these steps have been completed, the executor can petition the court for permission to distribute what is left of the decedent's assets to the beneficiaries named in the will. This usually requires the court's permission, which is typically only granted after the executor has submitted a complete accounting of every financial transaction they've engaged in throughout the probate process.
In general, the probate court probates the wills of deceased persons; establishes guardianships for incapacitated persons and minors; supervises the administration of the estates of deceased persons and incapacitated persons and minors; hears matters involving inter vivos, testamentary and charitable trusts; and hears all cases involving civil mental health commitments.
Some states have procedures that allow for the transfer of assets from small estates through affidavit or through a simplified probate process. For example, California has a “Small Estate Summary Procedure” to allow the summary transfer of a decedent's asset without a formal Probate proceeding. The dollar limit by which the Small Estate procedure can be effectuated is $150,000.[37]
YP - The Real Yellow PagesSM - helps you find the right local businesses to meet your specific needs. Search results are sorted by a combination of factors to give you a set of choices in response to your search criteria. These factors are similar to those you might use to determine which business to select from a local Yellow Pages directory, including proximity to where you are searching, expertise in the specific services or products you need, and comprehensive business information to help evaluate a business's suitability for you. “Preferred” listings, or those with featured website buttons, indicate YP advertisers who directly provide information about their businesses to help consumers make more informed buying decisions. YP advertisers receive higher placement in the default ordering of search results and may appear in sponsored listings on the top, side, or bottom of the search results page.
