Probate 101 Video Series
A Guide to Understanding Probate
Learn more about the basics of probate and how you can work together with Matt Reinaker to navigate your probate needs
the information presented in these videos is general information, not legal advice. Watching these videos does not create a lawyer-client relationship. If you need specific advice, please contact Asurest, or a licensed attourney in your area for assistance.
An Introduction to Probate
Probate is simply the legal process of transferring a person’s assets and property to their intended beneficiaries after their death.
But don’t let the simplicity of the process fool you. There are a lot of legal and administrative issues that must be taken care of in order to ensure that your assets are distributed as intended. This is where probate comes in. A probate court will oversee the entire process to make sure that everything is done correctly.
The Most Important Step in Probate
Before you start collecting assets, calling the courts, or filling out paperwork there is one thing you need to
ask yourself this very important question – Do you want to be the executor, because believe it or not, being named in someone’s Will doesn’t mean you have to serve as executor. No one can force you to do it, so take some time and think about whether you’re ready for the responsibility. There are a lot of things to consider, and some very good reasons you might not want the role that I’ll cover in this video.
Terminology Part 1 : People
In this video we will define some of the various roles that come into play through the probate process. It’s vital to know where you fall into the puzzle if you’re going to navigate this process. Each of the various roles and responsibilities may have some overlap so check out this video to understand where and how you fit in!
Terminology Part 2 : Financial Terms
In this video we will discuss some of the financial and monetary terms that will come up during probate. Studying up on these before we get into Probate will help you have a better understanding as you work together through the Probate process.
Terminology Part 3 : Legal Terms
In this Video we will take some time to discuss the Legal terminology that could come up through our future probate discussions. Its important for you to be aware of and understand these terms so you can stay ahead in the probate process. Feel free to check back on these terms later if you need a refresher.
Probate Red Flags – When to Get Help
What are the various red flags in probate that could find you in a tricky situation. In this video we will cover some of the items that will help you seek help before you get into a difficult or complicated situation that could end up potentiall even costing YOU money. Watch this video and be on the lookout for the red flags we cover in the video.
Qualification : The First Step
Now that we covered some basics let’s get into how to officially start probate. We will discuss some first steps and how you should move forward with your probate process and how to interact with the local courts as well as which documents you need to gather beforehand. Please reach out if you need help getting started.
Gathering and Securing Assets
Our Goal with safeguarding assets is to Protect & Collect. We want to focus our efforts on making sure that assets like pets, homes, vehicles and other assets are in safe and protected locations secured if you are named Executor in the will. Watch this video to make sure that you watch this video to learn more about how to protect and collect various assets.
Providing Notice : Your First Responsibility
Learn how you can set yourself up for a smooth probate process and understand what you first important dates are in your probate process. Sending notice of the death and you being named the Executor ot he estate is a vital step, but who needs to recive notice? Check out this video overview of how to Provide notice to learn more.
Paying off debts can be one of the trickiest parts of probate and an area where even an innocent mistake can cost you dearly so let’s talk about how to do it right. Learn about how estate accounts work and how to properly record and separate payments from your personal funds and the decedent’s funds. Please reach out if you’d like personalized help navigating this process!
Submitting Inventory : Don’t Make These Costly Mistakes
Creating an estate inventory can seem like an absolutely impossible task. How do you record the total inventory of all assets and even more how do we value each of these items? Watch this video to learn more about what counts as a probate asset and the different types of assets. Watch this video to understand how to professionally handle the inventory process
Distributing Assets : Keeping the Peace with Family
How can you distribute assets to make sure that you have fair and equitable dispersement of assets remaining. This can often be the most difficult step in the process. Tune into this video to get some helpful tips on how to split assets up and keep the peace with beneficiaries and avoid difficult situations.
Final Accounting : The Hardest Part & the Probate Finish Line
Submitting the final accounting is by far the most tedious technical and difficult stage of probate. There is no margin for error and if your accounting is off even by a penny, you will have to do it over again. This video can help give you an overview to equip you to have a smoother process with issuing your final accounting
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