What is Probate?
Probate is required to either validate a will and appoint an Executor or create an estate for one who died without a valid will and appoint an Administrator.
What Does it Mean to Be in Probate?
When someone passes away with or without a will in place, probate is the “official” way that the individual’s real and personal property (their estate) gets divided up and passed on. In order to ensure all fairness, the process must be supervised in court.
The Administrator or Executor has the legal authority to gather and value the assets, pay outstanding bills, pay taxes required in Kansas – and, ultimately, distribute the assets to the people appointed to receive them.
How Can Midpoint Help with Probate?
While we can’t help avoid probate, Midpoint can help speed the process up. We can work through ways to help when roadblocks happen.
For example, a recent client of ours were two sisters who inherited their parent’s property. There was no will, meaning it had to go through probate. But neither sister had the money to pay probate, meaning the home would go to a foreclosure sale.
By helping them meet a probate attorney, the attorney was able to expedite the process based on the fact that Midpoint was willing to evaluate an assessed value as well as a fair market value, then purchase the property, and put money up for our clients in order to acquire the home through probate for them.
If you have questions, please call Gavin at 316-295-6257 or use our contact form!