The term testate refers to a situation where a person has passed away with a valid Last Will and Testament in place. This means the deceased has specified how their assets and property should be distributed after their death and has named an executor to carry out their wishes.
What Happens When Someone Dies Testate?
Executor Oversees the Estate:
The individual named as the executor in the Will is responsible for:Filing the Will with the probate court.
Managing the estate (e.g., paying debts, taxes).
Distributing assets to the named beneficiaries according to the Will.
Probate Process:
Even with a valid Will, the estate typically goes through the probate process, where the court ensures the Will is valid and the executor follows its terms. However, some estate planning tools (like trusts) can reduce or avoid probate for certain assets.Assets Distributed as Specified:
Unlike intestate succession, where state laws dictate distribution, testate succession follows the instructions laid out in the Will.