Wills

This legal document is used by living persons who wish to direct how their assets are distributed after they die. A simple will merely directs who the property passes to after one’s death. Upon one’s death, the procedure for transferring assets from a person who has died to their survivors is called probate. The court used for completing the transfer of property that does not designate a beneficiary is called the Probate Division of the Family Court. The assets that allow the owner to designate a beneficiary (such as life insurance) do not necessarily have to go through Probate.

The probate process initially involves appointing a Personal Representative of the Estate. The Personal Representative has responsibility for paying off the debts of the decedent, paying the probate court fees and costs, paying the relevant taxes and distributing the remaining proceeds. Once the waiting period has passed, if the Personal Representative has completed his/her responsibilities, the estate can be closed. If the surviving heirs are cooperative and the estate is less than the amounts listed below, the process can be efficient; however, if disputes occur, the process can be lengthy and expensive.