Obviously, from the family’s perspective, the main function of probate is to transfer title and ownership of the decedent’s property to the rightful heirs and beneficiaries.
However, there are other stakeholders in play as well, including the estate’s creditors. Probate also provides a mechanism for payment and settlement of outstanding debts and taxes of the estate.
The probate process has the following broad goals:
- Give the decedent’s creditors the opportunity to be paid,
- Pay the decedent’s taxes,
- Correctly distribute the property and assets to beneficiaries, and
- Properly settle the decedent’s affairs.
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