Wills And Judgment Debtors

I am not an attorney, I am a Judgment and Collection Agency Broker. This article is my opinion, based on my California experiences, and laws vary in each state. If you need a strategy to use or legal advice, you should contact a lawyer.

Probate is a type of court with a hearing and a process, to verify and oversee the ownership transition of a deceased's possessions.

Some people having assets think that when they have already have a will in place, when they die, everything will automatically go to the heirs as specified in the will. If their estate is not substantial, this could happen.

If the value of an estate is substantial, probate court is usually involved, unless the deceased placed their assets in a living trust (or perhaps another type of trust).

A correctly formed living trust may sidestep probate court, as trusts prove the title of ownership of its assets listed, so most times probate court can be avoided.

People that die with their assets in a correctly formed living trust, can keep their estate out of the public's eye and probate court. The beneficiaries can inherit assets without the public knowing who got what.

When someone owning assets (not in a trust) dies, with or without a valid will, the belongings most often must pass through probate court before any assets are passed along to the intended beneficiaries.

Just because the will says Bob inherits the house and Jenny inherits the BMW, doesn't mean that one day after dad dies, Jenny and Bob immediately and automatically get the possessions itemized in the will.

First, it needs to be proven in probate court, that the assets father left his children in the will is owned by dad free and clear. The executor named in the will, administers the estate in probate court and beyond, until all liabilities, assets, and considerations have been handled.

If the executor listed in the will is not specified or is unavailable, the probate court will appoint one. The probate court verifies that the known creditors get achance to get paid, and that the dead person really owns the assets listed in the will. Lastly, the assets get dispersed to the beneficiaries.

Records in probate courts are part of the public record. Anyone may go into a probate court and inspect probate records for any dead person, including celebrities.

Even if the decedent's assets are small, probate proceedings sometime occur if there is a dispute over something having little intrinsic value. Examples might be sentimental items, ashes of the deceased, the way a retirement plan should be split, etc. Many probate cases involve substantial assets. However, a creditor may be right to quickly determine the estate's value. A creditor should decide if there could be enough assets to at least partly satisfy the judgment. If there is, then a creditor's claim should be filed immediately. (The executor often has four months to allow or deny the claim.)

If there seems to be sufficient assets to pay you, ask the representative or executor to do it without delay. The reason to do this is because assets can vanish to family members, who have little interest in paying a creditor of the decedent.

As a judgment creditor of the decedent, it is your right to request a listing of the estate's liabilities and assets, either from the probate court (if it was already filed there) or the lawyer of the executor if it was not.

If your judgment creditor's claim get denied without a valid cause, you can begin an adversarial action in probate court. You should be sure about what you're doing if you represent yourself. Most judges in the probate courts have very little patience for non-related self-represented parties that don't know what they are doing.

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