In Louisville, Kentucky, probate is the process in which a court validates or voids a will.
As part of this process, the Louisville, Kentucky probate court will determine the validity of the will, inventory the decedent's assets and debts, and then, finally, distribute the estate according to the will, assuming it is found to be valid.
Wills typically name the person who is to serve as executor of the estate. If no executor is named, the Louisville, Kentucky court will appoint an executor. This is typically the person who stands to gain the most if the will is found to be valid.
The executor is the person responsible 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 Louisville, Kentucky
The executor has many duties concerning the will. First of all, they have to actually initiate the probate proceedings with the court, and this procedure has to be completed before the will takes effect.
The executor also has to give those with a direct interest in the will notice that the decedent has died, by filing an official death certificate.
If the decedent was even moderately well-off financially, it's likely that they'll have substantial amounts of both debts and assets. The executor is tasked with drafting 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 proper court papers, and, if necessary, hiring an attorney for assistance. If the estate is large, and the executor stands to inherit a great deal of money once this process is done, they'll probably find it to be worth the time and expense.
How Can A Louisville, Kentucky Lawyer Help?
Because of the difficulties involved in probate, it would be smart to hire a knowledgeable Louisville, Kentucky probate lawyer, especially if you are the executor of an estate and unsure how to proceed.