LIVING TRUSTS FOR REAL ESTATE INVESTORS A Parting Gift to Your Heirs
Probate is the legal process of distributing a deceased person’s assets. It refers to both the process of a court determining the validity of a last Will and Testament and the deceased’s personal representative distributing the estate.
The estates of many property owners get caught up in probate, either because they did not create a Living Trust or they forgot to move property into an existing Living Trust. As a result, their family gets nailed with financial and emotional pain. In this article, we are going to break down all you need to know about probate because nobody wants to get caught up in the probate system if they don’t have to. A probate court oversees the distribution of a person’s assets
after they have died. The court deals with validating a Will, giving permission to an executor to distribute assets to ensure fairness and other tasks. A probate attorney is a specialized lawyer who advises executors and administrators on how to close the estate of a deceased person and helps prepare probate court forms. For really small estates, you might not need a probate attorney. But with any sizable estate, a probate attorney serves a useful purpose.
FOR REALLY SMALL ESTATES, YOU MIGHT NOT NEED A PROBATE ATTORNEY. BUT WITH ANY SIZABLE ESTATE, A PROBATE ATTORNEY SERVES A USEFUL PURPOSE.
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