In Old Forge, 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 decide that it is legitimate.
In the probate process, an Old Forge, Pennsylvania probate court has many 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 decided to be valid, the court will distribute the property according to its clauses.
The executor of the estate is often named in the will. If not, the probate court in Old Forge, Pennsylvania will name will appoint a person to serve as executor. This is normally the person who stands to inherit the most under the will.
The executor is the individual who initiates probate proceedings. The person who stands to inherit the most from the will is normally appointed the executor, because they will have the most incentive to help the process go as quickly as possible, so they can get their inheritance.
Duties of the Executor in Old Forge, Pennsylvania
The executor has various duties concerning the will. First of all, they have to actually initiate the probate hearings with the court, and this procedure has to be finalized before the will takes effect.
Furthermore, it's the executor's job to notify all affected parties that the person who made the will has died. "Interested parties" are typically 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 reasonably well-off financially, it's likely that they'll have considerable amounts of both debts and assets. The executor is tasked with formulating 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 required court papers, and, if necessary, hiring an attorney for guidance. If the estate is large, and the executor stands to inherit a great deal of money once this process is fulfilled, they'll probably find it to be worth the time and expense.
How Can A Old Forge, Pennsylvania Lawyer Help?
Because of the intricacies involved in probate, it would be a seasoned idea to consult with and retain an Old Forge, Pennsylvania attorney who specializes in probate, especially if you are the executor of an estate.