Foundations of Inheritance and Probate

Inheritance and probate feel arcane until they affect your own family. Understanding the system in advance saves months of confusion, avoidable taxes, and family disputes. This foundational course explains the moving parts. By the end of this course you will be able to describe what probate is and what it actually does, distinguish probate assets from non-probate assets, explain the role of executors and personal representatives, and understand how inheritance and estate taxes work at a basic level. What you will learn: - What probate is, why it exists, and what the court actually supervises - How probate assets differ from non-probate assets that pass by beneficiary designation or joint ownership - The role of the executor or personal representative and the duties involved - How creditors, debts, and final expenses are handled before distribution - The basics of estate tax thresholds, state inheritance taxes, and step-up in basis - How small estate procedures and summary administration shortcut full probate - Common myths: probate always takes years, all assets go through probate, taxes apply to all inheritances The course uses readings, process diagrams, and case examples. Each module ends with reflection prompts that help you apply the ideas to your own family's situation. This course is written for adults thinking ahead about their own estate and for those expecting to handle a parent's estate. By the end you will replace vague worry about probate with a clear map of how assets move at death and the levers that shape that movement long before the actual event.