Probate Code

The probate code in each state governs many aspects of estate management after a person dies. These rules specify who must be notified of the death and how property will be distributed if there is no will. They also govern the hearing process and which assets (such as the proceeds of a life insurance policy) may bypass the probate system. The right of creditors to be reimbursed out of the estate is also outlined in the probate code.

The procedures for assigning and/or replacing an executor are outlined in the probate code. Also covered are the steps to be taken by the executor or personal administrator in paying debts and taxes and distributing other assets appropriately. There are also regulations in place for retrieving assets that were improperly distributed so they can be turned over to the rightful heirs. Guardianship of minor children and persons with incapacitating disabilities are often addressed by these laws as well.

Fast Facts

  • A claim that originated far enough in the past that it exceeds the statute of limitations can be legally rejected by the executor.
  • Joint tenancy is not always a reliable substitute for a trust that transfers property directly to a surviving spouse.

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