There are various real estate properties in Rancho Cucamonga San Bernardino County, CA that undergo the probate process quite often in which property owned by a deceased person is included. Probate is the legal process of managing the estate of a deceased person and distributing the deceased’s assets mentioned in a will or according to the state laws if there is no will. This typically involves selling the property so that the proceeds can be distributed to the beneficiaries.
The final step in the probate process is the distribution of the estate property. In other words, everyone — both creditors and heirs — understand what will be given to them.
Creditors that have a valid claim are likely to be paid in the following order (though the order varies from state to state):
1. Estate administration costs (legal advertising, appraisal fees, and so on)
2. Family allowances
3. Funeral expenses
4. Taxes and debt
5. All remaining claims
Whatever's left after the creditors get their money is distributed to the heirs or to the beneficiaries named in the will. If one dies without a will, the laws in the state determine how property is distributed.
If probate proceeds according to plan and all notices and communications are properly handled, the personal representative is usually protected against any subsequent, late-arriving claims. Personal representative will be protected after some specified time period expires.
If you want to know more about probate and want to sell your probate property then you can take the help of our Rancho Cucamonga probate specialist at listwithjaime.com.