A will is a legal document that consists of directives on how a deceased wants his finances and assets to be taken care of. An executor has to notify the probate court to initiate the probate process as soon as a person dies. However, if you fail to notify the court and the probate process is delayed, there are consequences. Although it’s advisable not to delay the probate process to ensure easy transfer of assets timely, if you cannot, it has its fairly serious consequences.
This blog will highlight the importance of probating the will and what happens if you fail to probate the will.
Access Denied
The primary purpose of a will is to ensure the safe and complete transfer of assets from the deceased’s ownership to the beneficiaries named in the will. If one fails to probate the will, then those assets cannot be transferred or accessed by any means until the probate process starts. In addition, you will also not be able to sell or own the assets.
Cannot Keep Registration
As a will doesn’t undergo the probate process, the assets remain frozen and under the Registration of the deceased. Due to this reason, your loved ones cannot have quick access to the assets despite the need. Therefore, the executor must probate the will. The sooner you notify the probate court, the sooner you get to claim the access.
Penalties and Charges
Although intentionally delaying the will doesn’t count as a criminal offense, the rules vary from place to place. For instance, U.S. laws do not deal with delays smoothly. According to their judicial system, if an executor purposefully delays probating the will and causes financial harm to the other named beneficiaries, then that person is liable for punishment. In addition, if the failure to probate the will is coupled to hide and manipulate the will for personal gains, then the charges are double folded in the court of law.
Small estates
If the deceased’s assets are not expensive and lack substantial monetary value, then in case of failure to probate, the courts undertake the matter. If the estate cost is small, then the probate courts exempt the will from probate and allow the asset transference through “transfer by affidavit.”
If you have failed to probate the will and are looking for competent Litigation lawyer Queens to help you in the time of need, then consider us at Ledwidge & Associates, P.C. Our legal services are focused on the probate process, estate planning Queens, and Family Law Services Queens. Lawyers at Ledwidge & Associates, including estate and probate and divorce attorneys, will make sure to make legal matters easy and quick to deal with.
For more information, get in touch with us.
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