What is the probate process?
If there is a Will, it must be “proven.” The Executor named in the will files a petition in the Probate Court in the county where the decedent lived, along with the original Will. Notice must be given to the heirs-at-law, or they must acknowledge service of the petition. After the Executor is sworn in by the Clerk, the administration of the estate begins. Bills, debts and claims are determined and paid, according to law on priorities, and then properties are transferred according to the Will. If there is no will, an Administrator is sworn in and distributes property according to Georgia law.
Does any property pass outside probate?
If you hold your home as joint tenants with right of survivorship, then the property will be distributed to the co-owner and will not pass through probate. If you have designated a beneficiary of your retirement assets or your life insurance (which may or may not be advisable), then those assets will be distributed to that beneficiary instead of being distributed by your will, and therefore, outside of probate.
Is probate expensive?
Probate filing fees in Georgia are approximately $250.00 and most attorneys charge their usual hourly rate to assist an executor or administrator in the probate process. In other states, the fee is based on a percentage of the probate estate.
What is a guardianship?
A guardianship is a probate court appointment of guardian to make decisions for an adult who has lost sufficient capacity to make or communicate significant responsible decisions for his or her own health or safety.
What is a conservatorship?
A conservatorship is also a probate court appointment, except that the adult has lost sufficient capacity to make or communicate significant responsible decisions concerning “the management of his or her property.” The expense of such an appointment can be avoided in many cases by the naming of an agent in a Durable Financial Power of Attorney which an attorney can draft for you.