Jennifer Haslip

There are many reasons for probate, but some of the most important are:

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• Transferring the legal title / ownership of the decedent’s property and assets to the heirs and/or beneficiaries;

• The collection of any taxes due to various taxing authorities that may be owed by the decedent or his/her estate at the time of death or taxes that become due when a property is transferred;

• Probate provides a legally mandated deadline for creditors to file claims against the estate. This prevents old or unpaid creditors from future claims against the heirs or beneficiaries;

• If the deceased owned real estate in his/her own name, no one could properly accept title to that property, nor would a bank give a mortgage to a new buyer unless the estate went through probate and a “clear title” could be transferred to the new buyer;

• Finally, it provides a legal method for the actual physical distribution of the remainder of the estate’s property to the heirs and beneficiaries.