Basics of Probate

Question 1

What are trusts and estates about?

Answer 1

The transmission of wealth

Question 2

Personal representative

Answer 2

Identifies the decedent’s assets, can petition for probate of the will

Question 3

Probate process (5 steps)

Answer 3

1. A PR is chosen
2. Creditors make claims
3. PR petitions for probate (admission to probate is a status, a will is effective once admitted to probate)
4. Contestants can challenge the will or its construction
5. Considering the will and all else, probate decides who takes what

Question 4

Probate estate

Answer 4

The estate is decided through a probate court (can pass through the will, probate, or intestate succession) AND is administered through the PR

Question 5

Can assets pass outside of probate?

Answer 5

Yes

Question 6

Executor

Answer 6

Name of the personal representative if appointed by the will

Question 7

Administrator with will annexed

Answer 7

If the will does not appoint the personal representative

Question 8

Administrator

Answer 8

What the personal representative is called if there is no valid will