
Finally, after the court is satisfied that all legal requirements have been met, it will order all debts, claims, taxes, attorney”s fees and the personal representative ‘s compensation and any other miscelaneous expenses to be paid.
If there is not enough cash in the estate to pay these substantial claims, the judge can order that assets be sold at public auctions or estate sales.
These transactions are often conducted in a depressed market or under the heading of “distressed sales “.
Only after all the bills are paid will the probate court distribute the estate to the beneficiaries named in the Will: or if there is no Will, to the designated heirs at law.
The court then closes the file !
Get the best legal counsel you can right at the start. After reading some of the problems possible , every adult would be very wise to quickly become familiar with a lawyer, notary, financial planner etc. to avoid facing major problems.
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Register the Location of where you will keep your Will so it can be easily found when needed with a WORLDS WILLS LOCATIONS REGISTRY.