Tuesday, April 1, 2014

Probate Protection For Sue

After widower Luke’s death several weeks ago, his only child Sue has discovered that she had to go to the probate court to get access to Luke’s money to pay his bills and get the leftover assets for herself. 

Although probate is designed to protect creditors and other potential beneficiaries from losing their fair share of a deceased person’s estate, it also can protect Sue. 

She found and filed Luke’s Will that leaves everything to her, names her to serve as executor, and waives her having to obtain an executor’s bond.  After preparing the Petition and supporting documents for the court, her attorney obtains a court order stating that Sue is the independent executor of Luke’s estate.

That means that only Sue is authorized to gather Luke’s assets and decide what bills to pay.  She authorizes her attorney and/or others to get confidential information about Luke’s money and property.  But Sue is the only one who can legally move his money, sell the house, or pay bills from his money. 

Probate court protects Sue from others getting to Luke’s estate assets too soon after his death, including creditors.  The probate process allows her the authority and time to properly determine what everyone’s fair share is.  For advice on avoiding or simplifying probate for your family in the event of your death, call our office at (815) 436-1996 for an estate planning appointment.  © 2014 Gruber Law Office, Ltd.

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