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Probate involves a series of legal steps, including filing documents, notifying heirs and creditors, appraising assets, settling debts, and distributing assets. This process can be time-consuming ...
In common law jurisdictions, probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased; or whereby, in the absence of a legal will, the estate is settled according to the laws of intestacy that apply in the jurisdiction where the deceased resided at the time of their death.
There is no legal requirement that a will be drawn up by a lawyer, and some people may resist hiring a lawyer to draft a will. [12] People may draft a will with the assistance of a lawyer, use a software product [13] or will form, or write their wishes entirely on their own. Some lawyers offer educational classes for people who want to write ...
On average, probate costs 3% to 7% of the value of a given estate, according to Trust & Will. If your estate is worth $1 million, that means you're looking at $30,000 to $70,000 sliced off the top.
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Stalley, [3] a Michigan lawyer relied on the official text of the Uniform Probate Code and failed to check the statute as it had been adopted in Florida. As a result, the lawyer missed a filing deadline on a $3,760,909.49 claim.
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