Probate is a long process in some cases, and it's filled with legal requirements. As an executor, you'll want to make sure that you administer the estate quickly after your loved one dies. Probate is the way you obtain the power to do so.
As a potential heir, it's a good idea to sit down and think about the money or assets you're about to receive. You want to know how to handle it well so that it can go the distance toward helping you in the future.
If you have children who have been left inheritances, it can be difficult to decide when to allow them access to those funds or assets. For the most part, children don't grasp the full value of what they've been given, so you want to wait until they're old enough to understand that they're receiving a large amount of money, a home or another valuable asset.
You took the time to invest and save so that you could pass on an inheritance to your children. Today, your biggest concern may no longer be growing those assets. Instead, you may be focused on making sure they're protected against taxes and other losses.
As the spouse of a person who has passed away, you are not certain about how well their will can hold up in court. They willed away several of the assets that you'd like to keep in your possession. As the spouse of the decedent, you believe that everything should pass to you.