An estate is the total amount of property owned by a person (the “decedent”) at his or her death. In most states, including, Georgia the probate court oversees the administration of a decedent’s estate. Estate administration is the process of probating the estate of a decedent, which includes inventorying the property, paying and collecting debts, filing estate taxes, and distributing the remaining assets to beneficiaries.

If a decedent leaves a valid will, the will generally names an executor to handle the administration of the estate. The estate assets are distributed by the executor in accordance with the provisions of the will and under the supervision of the probate court.

If a decedent does not leave a will, or if the will is found to be invalid for any reason, the decedent is said to have died “intestate.” The state’s inheritance laws determine how the estate assets are distributed, and the probate court appoints an administrator to administer the estate.

Some types of assets do not have to go through the probate process, including life insurance, tax-deferred retirement plans such as IRAs and 401(k)s, and property owned jointly with a right of survivorship. These non-probate assets are usually directly payable to a named beneficiary or co-owner. Additionally, property held in a revocable living trust does not have to go through probate.

For large and complicated estates, probate can be time-consuming and costly. Most states, including Georgia, provide a streamlined and less expensive process for smaller estates. No matter what the size of the estate, however, dealing with the probate process and preserving estate assets requires an understanding of probate and tax laws. If you are involved in any way with administering an estate, you should contact an attorney with experience in probate and estate administration for guidance.