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Probate

Probate is the process of distributing an estate’s assets. The probate process includes appointing an executor if one is not named, validating the will, allowing for challenges to the will, overseeing the distribution of assets, filing a report with the court, and closing the estate.

There are numerous costs and fees involved in the probate process, including legal fees, executor fees, and court fees; these fees can be from 1 percent to 8 percent of the estate’s value. Additionally, the probate process can be quite slow, especially if there are challenges to the will or tax problems.

 



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