Disclaimer: Consumer legal fundings and advances are not loans under applicable financing laws. Rockpoint’s products are non-recourse, meaning if you don’t win your case, you don’t have to pay us back. Receiving financial support in connection with a legal case is typically (and oftentimes incorrectly) referred to as a “lawsuit loan” or “loan.” Therefore, for the ease of search references, these terms may be used in this context to refer to our funding products, but we maintain our separateness from consumer loan products in all legal aspects.
If you are the executor of a loved one’s estate after their passing, you’ll likely need to file a probate petition. This legal document begins the probate process, which is the process of distributing the decedent’s assets and establishing will validity. Whether you fall under Delaware probate law or probate law in another state, you’ll probably start the process by submitting the petition.
Filing a probate petition can be confusing, especially for those with no legal experience. Review these mistakes to avoid when submitting a probate petition to promote a smoother filing process.
Mistake #1: Filing With the Wrong Court
Usually, you will need to file a probate petition in the county where the decedent lived when they died. Complete a Google search for “local probate court in (county)” to find this court. Then, call the phone number listed to confirm that you have the correct court and ask about its probate petition process.
Many probate courts have forms on their websites that you can submit online or print and fill out on paper. As you begin this process, your probate court’s website will serve as an excellent resource.
If you file with the wrong court, you’ll only waste time and delay your inheritance.
Mistake #2: Missing the Filing Deadline
Each state sets its own filing deadline for submitting the initial probate petition. For example, in California, the deadline is only 30 days after the decedent’s death.
Find out the deadline in your state, and be sure to file the petition by the appropriate day. No matter your deadline, you should attempt to complete this process as soon as possible to avoid complications. The sooner you finalize probate, the faster you and any other beneficiaries will secure your inheritance.
Mistake #3: Overlooking the Appointed Executor in the Decedent’s Will
The decedent’s executor is responsible for the probate court filing and a range of other estate administration duties. In light of the many executor responsibilities, it is important to identify the correct executor according to the decedent’s wishes.
Review the decedent’s will to determine whether they appointed someone as executor or estate administrator. If not, the responsibility may automatically pass to their living spouse, parent, or adult child, depending on the state.
If no executor is listed, you or someone close to the decedent can file the probate petition. The court will then appoint someone to administer the estate.
Mistake #4: Failing To Notify Heirs
Part of filing a petition for probate involves notifying the decedent’s beneficiaries of their inheritances. The decedent’s will may name heirs specifically but may also leave assets to a class of heirs. You will need to identify all of the individuals in these classes and notify them of their incoming assets.
Overlooking beneficiaries could lead to delays in the filing process. It could also lead to disputes, as potential heirs may come forward and claim they have a right to the decedent’s assets after the probate process is completed.
Mistake #5: Leaving Out Necessary Information in the Petition
Your official probate petition with the court should include a few key pieces of information, such as:
- Details about the deceased person
- The decedent’s assets
- Any known debts or liabilities
- The person who will serve as executor, if listed in the will
You will need to gather a range of documents to find these details. The same documents will be necessary throughout the probate process, so hold on to them.
Leaving out any required information will only prolong the probate filing process. Fill out the forms comprehensively and check them over before submitting them.
Mistake #6: Neglecting Asset Valuation
You must provide the probate court with a list of the decedent’s assets and their value. Not all assets have clear valuations; for example, the decedent may have cars, real estate, or valuable items that don’t have an explicit price tag.
If the decedent’s will leaves a certain percentage of their assets to each beneficiary, you’ll need to know the rough value of all of their assets. Take the time to learn their valuation, either by talking to an appraiser or researching the value of similar items.
Mistake #7: Overlooking Probate Costs
Filing a probate petition isn’t free. It can involve several costs, such as:
- Court filing fees, which are often a few hundred dollars at a minimum
- Certificate fees to issue the common certificates you need, such as the death certificate
- Publication fees for legal notices
- Beneficiary notifications by certified mail, which costs around $5 per letter
- Appraisal fees to establish the value of assets
You may also face other costs associated with probate, such as storage fees, time off work, estate sale preparation, funeral costs, and more.
Eventually, you may be able to pay yourself back with the decedent’s assets for some of these costs. However, you will not gain access to these assets until probate is over.
Need Financial Help During Probate? Contact Rockpoint Probate Funding Today
Avoiding these common mistakes when filing a probate petition can help you streamline the process, but even still, probate can take over a year to finish. Do you need financial help in the meantime?
At Rockpoint Probate Funding, we offer fast, non-recourse inheritance advances. We can give you a portion of your eventual inheritance now so you can stop stressing about finances and gain peace of mind.
Contact us today at 888-263-8588 to learn more about our inheritance advance process and begin your application. We are available 24/7 to assist you.
