Probate is something that impacts everyone on some level, but what that means for each individual can vary greatly. The attached video discusses the details and legalities of probate, but what does that mean for the average Joe? Hopefully, in most cases, a will is something that has been filled out, and an executor has been assigned. Otherwise, these end-of-life processes can become messy and highly disputed.
Probate, for most people, isn’t something that involves millions of dollars in assets or the division of extensive and lucrative stock and shareholdings. No, for most of us, this is about settling any remaining debts we may have owned at the time of our passing, and how our personal belongings will be divided.
Even for the most common cases, however, there can be a considerable difference in what that looks like and what that involves. Today, it may not be uncommon for some people to have considerable credit card debt at the time of their death. It is also no less uncommon for families to decide who takes over the deed to mom or dad’s house and who gets the vehicle. These are also what the common probate cases mean for the average person. Condolences on your loss and best of luck with all your proceedings.
