Salish Elder Law Blog
WHAT IS PROBATE AND IS MY ESTATE SUBJECT TO PROBATE?
“Probate” is a protective, court supervised, legal process established by the state to oversee the settlement of an individual’s estate at death. During this process, “a Personal Representative” is appointed to “administer,” or manage the “assets” of a decedent, who resided and owned assets in Washington. Administration includes: collection and valuation of the estate assets, payment of the decedent’s bills, investigation and settlement of tax issues, and finally distribution the estate according to the terms of the decedent’s Will, or by the state rules of “intestacy” if the decedent died without a Will.
ESTATE PLANNING IS MORE THAN JUST A WILL
Estate Planning involves much more than death-time planning using just a Will – as this planning encompasses planning for lifetime emergencies as well as planning how assets will be distributed at death. In effect, a large swath of lifetime situations should be covered.