In North Bay, Florida, probate is the process through which a Court decides if a will is valid or not.
As part of the probate procedure, the court in North Bay, Florida will decide the validity of the will, inventory the decedent's assets and debts, then, assuming everything is deemed to be in order, distribute the estate according to the will.
The executor of the estate is commonly named in the will. If not, the probate court in North Bay, Florida will name will appoint a person to serve as executor. This is usually the person who stands to inherit the most under the will.
The executor is the person accountable for initiating the probate proceedings. The person who would inherit the most from the will is appointed, because they have the greatest incitement to move the process along as quickly as possible, so they can get their inheritance.
Duties of the Executor in North Bay, Florida
The executor has several duties with respect to the will. First, it is his or her job to actually initiate probate proceedings, which often must be done before the will is given effect.
They also are obligated to provide notice to the people with a direct interest in the estate that the decedent has died, usually by filing a death certificate.
If the decedent was even slightly well-off financially, it's likely that they'll have significant amounts of both debts and assets. The executor is tasked with creating an accurate accounting of the debts and assets of the estate, so as much of the decedent's debts can be paid off as possible.
As the representative of the estate, the executor has to take charge of the probate process, filing the necessary court papers, and, if necessary, hiring an attorney for advice. If the estate is large, and the executor stands to inherit a great deal of money once this process is complete, they'll probably find it to be worth the time and expense.
How Can A North Bay, Florida Lawyer Help?
Because of the complexities involved in probate, it would be a reputable idea to consult with and retain a North Bay, Florida attorney who specializes in probate, especially if you are the executor of an estate.