The probate process is designed to handle the most complicated cases. It is designed to handle those estates which are insolvent because the debts of the decedent exceed the assets of the decedent. It is designed to protect situations where there are dysfunctional families and the heirs are combatant. To the extent that an individual has “probate assets”, it is necessary to go through the probate process even if the case is not insolvent, the heirs all get along well and even if the case is a simple one. This process can be extremely time-consuming and expensive.
To the extent that the decedent owned “probate assets”, it is necessary to go through the probate process. What exactly are “probate assets”?