LikeRE.com

Understanding Estates, Wills, and Probate - Looking for important Real Estate News in your area? - LikeRE

Home
Categories
Tags
Authors
Calendar
Search
Sign In
Sign in to your account
If you are new here please register for an account
Forgot username? Forgot password?
1 minute reading time (281 words)

Understanding Estates, Wills, and Probate

Trending Tips - Tip of the Day
LikeRE.com
Friday, 28 July 2023

From First Steps

People often don't know where to start when it comes to understanding an estate, a will, and the probate process. This post will familiarize you with these terms. There is an entire subspecialty within the law known as Estate and Probate law dedicated exclusively to the process of creating estate plans and distributing assets upon death. This post is not a substitute for seeking qualified legal counsel for your situation, rather it is simply a road map to help you get the process started. It is also important to note that Estate Law is different in each state. Therefore, it is recommended that you seek information about the statutes in your state.

What is an estate?

An estate includes all the assets of the deceased, such as real estate, personal property, accounts, investments, automobiles, etc.

What is a will?

A will is a legal declaration authored by a living person that states how they want their assets distributed upon death.

What is probate?

The word "probate" is commonly used to refer to the administration of a deceased person's estate. After death, an estate is either viewed "testate" or "intestate."

· Testate: A person has died with a valid will and therefore the assets of the estate are distributed in accordance with the will.
· Intestate: A person has died without a valid will and therefore the assets are distributed in accordance with the provisions of state law, or intestate succession.

You can learn more about the many things that need to be done from a financial perspective when a loved one passes away through the online course First Steps: A Comprehensive Guide to Financial Matters After A Death

Tags:
First Steps People estate probate process Probate law estate plans
My 55+ Community Is Discriminating Against Me. Wha...
A Tiny Cabin, a Little Island and a Big Change: ‘A...

About the author

LikeRE.com

Author's recent posts
More posts from author
Thursday, 24 July 2025 Two Americans Made Their Dreams Come True in Normandy, France
Thursday, 24 July 2025 Homes for Sale in New York and Connecticut
Thursday, 24 July 2025 Homes for Sale in Manhattan and Brooklyn
Thursday, 24 July 2025 Buying a High-End Home? A Million Dollars Mostly Falls Short.
Thursday, 24 July 2025 To Understand the Delacorte Theater Renovation, Peek Inside This Rowhouse
Wednesday, 23 July 2025 U.S. Homes Are Not Selling, and Prices Continue to Rise

Related Posts

Be a Problem-Solver

Trending Tips - Tip of the Day

Agent Growth Tips

Trending Tips - Tip of the Day

Email Marketing for Lead Nurturing

Trending Tips - Tip of the Day

Difficult Clients

Trending Tips - Tip of the Day

Deep Clean Everything

Trending Tips - Tip of the Day

Real Estate Video Tips

Trending Tips - Tip of the Day
Comment for this post has been locked by admin.
 

Comments

Comments are not available for users without an account. Please login first to view these comments.

Copyright ©2025 LikeRE


main version