Probate refers to the legal process through which an appointed executor properly administers your loved one’s estate to their designated beneficiaries based on their expressed wishes in their Last Will and Testament document. Or, in accordance with Pennsylvania’s laws of intestacy, if your loved one never got around to creating a will document. And so, when an executor is called up to assume their position upon your loved one’s unfortunate passing, they may be faced with either initiating a formal or informal probate process. Nonetheless, please continue reading to learn the difference between formal and informal probate and how one of the experienced Butler County probate attorneys at Heritage Elder Law & Estate Planning, LLC, can help you navigate either process.
What is the difference between formal and informal probate?
On the one hand, by definition, formal probate is a court-supervised process for distributing your loved one’s property and assets amongst heirs. This is likely the typical procedure you may think of for probate. That is, a Pennsylvania probate court will have to validate the Last Will and Testament document, appoint an executor or personal representative of the estate, and oversee the entire process of this individual’s managing and distributing of this estate.
On the other hand, and less commonly referenced, informal probate may be a process with a lesser level of judicial oversight. In turn, this lends to a more straightforward approach, which may allow designated beneficiaries to acquire their promised property and assets sooner rather than later. On top of this, the executor, beneficiaries, and the rest of the decedent’s loved ones may not have to worry about such a costly legal process. This is especially helpful at a time when there may be worries about the decedent’s outstanding debts and taxes, funeral expenses, burial expenses, and much more.
When is the informal probate process a suitable option?
At face value, you may believe that informal probate is a more ideal legal procedure than a formal one. However, it is not really in any party’s control to pick and choose which process to undergo. In other words, informal probate may only be a suitable and viable option if the following things are true:
- Your loved one must have established a will document that was undoubtedly clear, valid, and enforceable.
- Your loved one must have only a small number of simple assets making up their estate.
- Your loved one must have only designated a small number of heirs to inherit their estate.
- Your loved one’s beneficiaries must be in agreement and not contest the will at any time.
- Your loved one must have left little to no outstanding debts or taxes behind.
In the end, if you are ready for the probate process, please retain the services of one of the skilled Butler County probate attorneys. Our team at Heritage Elder Law & Estate Planning, LLC awaits your phone call.
