How Long Does the Probate of Wills Process Take?

Probation is a lengthy process that can take months to years. It depends on several factors, such as the estate’s value and whether any heirs dispute the will.

Once the executor has accounted for everything she has received and paid, and any controversies have been settled, she will file a petition and citation with the Surrogate’s Court. This is when the probate process officially begins.

The Size of the Estate

The first step in the process involves filing a probate petition with the court, which will also require that all known creditors of the estate are informed. Once the court is convinced that the document is valid, it will schedule a hearing to formally appoint the executor named in the will or a personal representative to act on behalf of the estate.

Once the executor is appointed, they must begin inventorying all the estate’s assets. This can include real estate, personal property (jewelry, clothes, other movable items), stocks and bonds, business interests, and more.

The more complex an estate is, the longer the probate of wills Fort Worth, TX will take to settle. This can be especially true if the deceased was a business owner or had an extensive art collection, which may require experts to appraise. Additionally, disputes among beneficiaries can delay the proceedings, as can a need to resolve legal issues. Having an experienced attorney can help speed up the process.

The Type of Assets

Settling the estate can take longer, depending on the type of assets included. For example, real estate can take months or even years to sell. This delay can be caused by market conditions or other issues that make the property difficult to sell.

Additionally, illiquid assets can add to the length of probate. These assets cannot be easily sold, such as shares in private businesses or debts owed by the deceased individual to credit card companies and mortgage lenders. The court will prioritize paying off these debts before distributing any inheritance to beneficiaries.

Some assets do not require probate, such as those owned jointly with another person and with rights of survivorship. Also, assets with a pay-on-death (POD) or transfer-on-death (TOD) designation can avoid the probate process altogether. An experienced estate planning attorney can help you minimize your estate so that it requires minimal probate time. This will save your heirs time and money in the long run.

Creditors

If the deceased left behind debts that need to be paid, creditors must be notified and allowed to file a claim against the estate. This takes time, and the executor must be careful not to distribute assets before resolving all claims.

Heirs may need to be found and contacted, which can also add time. If they dispute the will’s contents, a court hearing will be necessary to determine whether it is valid.

Finally, hiring experts to appraise assets or review tax matters may be necessary. This can add weeks or months, depending on the case’s complexity. Fortunately, with the help of an experienced attorney, this process can be completed more quickly than it might otherwise. Small estates without a will can be processed in as little as six to nine months. This can be much quicker than the two years needed for an estate with contested issues.

Heirs

A final accounting must be submitted to the court before assets can be distributed to heirs and beneficiaries. This includes a final tax return (if required), filing for and receiving clearance letters from the IRS, performing an estate inventory, re-titling all assets into the estate’s name, and paying off debts.

The executor must also inform all known creditors of the probate proceeding and give them a time frame within which they may request payment from the estate’s assets. Priority is given to administration expenses and funeral costs before any other debts are paid.

In short, the probate process typically takes 3-6 months to validate a will, identify heirs and beneficiaries, perform an estate inventory, manage claims, and distribute property. However, this timeline largely depends on the estate size and complexity of issues. Having an efficient estate plan in place will reduce the process’s length and any legal fees.