If someone dies owning assets in his or her name alone (“probatable assets”), whether or not a Will exists, there must be a probate court proceeding to determine who is to receive the assets. In other words, the Will is given effect through the probate court proceedings.
Probate means “prove.” One must prove to the probate court that the Will is valid, that the maker was competent and not forced to make the Will that the heirs and representatives are proper, that all creditors have been paid and that all persons are getting their just due. Only after the proofs are made may an heir receive his or her inheritance.
One type of probate procedure is called the SUMMARY ADMINISTRATION proceeding. It is available for use only when the probatable assets are worth less than $75,000.00, after allowance is made for property that is exempt from the claims of creditors and there is no real estate involved or the decedent has been dead for more than 2 years… Time shares are not real estate but rather personal property so Summary Administration is available.