It isn’t easy to keep track of the process of passing assets. If you want to plan for this type of scenario, and avoid scrambling to learn everything about wills last-minute, invest in the future and get educated about probate procedures! This video gives a brief introduction to probate and explains why assets must be dispersed prior to assets able to be transferred.
Probate is the duration between a will writer’s passing and the transfer of title assets to those who are named in the will. It’s basically the time between the passing of a family member and the execution of the will. In the event that a loved one has passed away, there is an interval of time before you receive the legal benefits that a will gives the estate to. The waiting time ensures the estate is properly legal and registered. The will will be clarified as to who is the beneficiary, and everything is check and re-checked. This will avoid future disputes as well as confusion over assets and wills. You don’t need to worry about probate because it’s the most important part of the will.