View random article

What Is Probate Inheritance?

Probate inheritance is a type of will where the execution of the instructions stated in the will is halted until certain conditions are met - in most cases, those are related to clearing up the deceased person's debts and paying off any due fees they might have owed to various organizations and firms. Additionally, the execution of probate wills is overseen by probate solicitors, officials who have been present at the signing of the will and have been appointed to certify that the will is entirely valid and justified.

The need for probate inheritance has arisen from various disputes over deceased people's property in the past - in the general case, some unscrupulous relatives engage in arguments over their rights of the specific elements of the inheritance. This has been most common in cases where massive amounts of wealth have been involved, as well as some questionable relationships between the deceased and their relatives. The most typical claims used by those involved in such cases are that the deceased person had written the will in a poor state of mind, or that they have been pressured into writing it in a way that they didn't mean to.

Before the will can be executed and the people named in it paid off, probate solicitors conduct some research to determine the deceased person's debts, notifying their creditors of the death and resolving any outstanding issues. In most cases, probate solicitors will not deal with creditors themselves, but will rather get them in touch with the trustees in order to resolve disputes.

Featured in Finance