When you leave a will, it must typically be validated, or proved, through a legal process known as probate. The
probate
court, which is known by different names in different states, approves the settlement of your estate after your death, including an inventory of estate assets, the payment of any debts, and the transfer of legal title of property to your heirs.
The more information you can leave for your
executor,
the smoother the probate process can be. For example, wills don’t normally list your bank and
brokerage accounts,
your retirement savings plans, or the location of your safe deposit box. You can leave that information, and more, in a letter of instruction for your executor. Despite a popular myth to the contrary, in most cases probate isn’t that complicated or costly and dying intestate, or without a will, is probably more expensive. In this case, your estate still has to go through probate under court supervision, and the resulting administrative expenses are likely to be much higher.
Some states offer a simplified probate process for estates below a certain value, which varies by state. It’s something you should check as part of the planning process so that your executor is aware of the rules that must be followed.
Letter of instruction
It’s a good idea to date your letter of instruction, in case more than one version is found. Keep it in a secure place but where your executor will be able to find it easily when you have died. But remember that this letter is guidance for your executor, not a legal document. It’s not a substitute for a will.
When you leave a will, it must typically be validated, or proved, through a legal process known as probate. The
