What is probate and when is it required?

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What is probate and when is it required?

Asked on October 1, 2012 under Estate Planning, New Jersey

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

A probate is a legal proceeding when someone passes with a Will in effect. In a probate proceeding, the Will is submitted to the court and certain required proceedings with notice are gone through where creditors of the decedent are given notice of the passing and an oppotunity to make a claim, the assets and liabilities of the decedent are accounted for and the beneficiaries under the Will are given their inheritance after associated costs and creditors are paid.

A probate is required whenever a person dies with a Will in effect and no trust.


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