In Whitefish Bay, Wisconsin "probate" refers to the process a court uses to determine whether or not a will is legitimate, thereby deciding if it should be given effect.
In the probate process, a Whitefish Bay, Wisconsin 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 decided to be valid, the court will distribute the property according to its clauses.
The executor of the estate is frequently named in the will. If not, the probate court in Whitefish Bay, Wisconsin 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 individual 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 incitement to help the process go as quickly as possible, so they can get their inheritance.
Duties of the Executor in Whitefish Bay, Wisconsin
There are quite a few things that an executor is accountable for. At the outset, they are obligated to file the probate action with the appropriate court. No progress, let alone any final disposition of the estate, can be made until this happens.
Additionally, it's the executor's job to notify all affected 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 reasonably 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 obligated 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 Whitefish Bay, Wisconsin Lawyer Help?
Because of the difficulties involved in probate, it would be a reliable idea to consult with and retain a Whitefish Bay, Wisconsin attorney who specializes in probate, especially if you are the executor of an estate.