Simply put, one of the questions we get a lot is, What is probate, anyway?
The simple answer to that is probate is when you submit your will to the clerk of court for validation. If you don’t have a will, you submit an application to handle somebody’s estate to the clerk of court.
And then you deal with the payment of creditors, you deal with distributing those assets to the heirs of the estate. If there are any disputes, you know, the clerk of court will help set that out so you can settle everything up.
So again, a probate is simply handling somebody’s estate and their assets after they’ve passed away.
Now, the follow up question to that is, Well, does everybody need a probate?
Every estate that has anything that doesn’t have a beneficiary on it is going to go through probate. So, if they’ve got a bank account in their name, only, then you’re going to have to have a probate. Now there are processes for small estates, which are under $20,000, if you’re single, and under $30,000, if you’re married in North Carolina, at least currently. If you’ve got more than $30,000 and assets that would be dealt with, or you’ve got a ton of creditors lining up, then it might behoove you to do a full estate probate.
And those are both things we can help you with.
So I hope this quick and simple answer on what is probate was helpful. You can call us at (336) 281-6928 or schedule a consultation online. And last but not least certainly like and subscribe to us on YouTube for helpful legal tips.