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Avoiding Probate, Beneficiaries, Creditors, estate, Estate Plan, Formal Probate, Formal Probate Proceeding, probate, Probate Court, probate process, Tax Returns, valid will, Will
Avoiding probate for estate assets is a good strategy, but there are instances when probate is beneficial to an estate. In general, the purpose of probate is to ensure the following:
- The settlement of the decedent’s assets.
- To ensure the filing of all tax returns required for the estate and the decedent.
- Ensure the payment of all debts of the decedent.
- Ensure that all remaining property of the decedent is properly distributed.
In addition, the probate court offers some features in the probate process that are beneficial to an estate.