In Oil City, Pennsylvania, probate is a legal procedure that a court must go through before giving effect to a will. Before putting a will into effect, a court has to determine that it is valid.
In the probate process, an Oil City, Pennsylvania probate court has various duties, including ruling on a will's validity, making an inventory of the estate's assets, and making note of all the decedent's debts. Once the will is determined to be valid, the court will distribute the property according to its terms.
The executor of the estate is frequently named in the will. If not, the probate court in Oil City, Pennsylvania will name will appoint a person to serve as executor. This is typically the person who stands to inherit the most under the will.
The executor is the person who initiates probate proceedings. The person who stands to inherit the most from the will is typically appointed the executor, because they will have the most inducement to help the process go as quickly as possible, so they can get their inheritance.
Duties of the Executor in Oil City, Pennsylvania
The executor has several duties concerning the will. First of all, they have to actually initiate the probate proceedings with the court, and this procedure has to be finished before the will takes effect.
Additionally, it's the executor's job to notify all involved parties that the person who made the will has died. "Interested parties" are usually people who are named in the will, or who would inherit the estate if the decedent had died without a will.
If the decedent was even somewhat 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.
Moreover, the executor is required to take the lead in establishing the validity of the will, effectively acting as the living embodiment of the decedent's estate. The executor is typically the person who will inherit the most once the will goes through probate, so they have a good reason to put in the work to do this.
How Can A Oil City, Pennsylvania Lawyer Help?
Because of the difficulties involved in probate, it would be smart to hire a knowledgeable Oil City, Pennsylvania probate lawyer, especially if you are the executor of an estate and unsure how to proceed.