Probate
IN AMERICAN CULTURE, THE WORD
IN AMERICAN CULTURE, THE WORD
“PROBATE” IS FEARED AND AVOIDED. WHY?
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Probate, Should it be Avoided?
Most people generally fear Probate, which is often based on publicity or misunderstood information. The press and numerous articles explain the hazard of Probate and the underlying expenses which could wipe out an estate. Are these real or imagined concerns? The answer is quite simple; it all depends.
It depends on the size and complexity of the estate. It depends on instructions from the will of the decedent. It depends on the state of residence of the decedent. It depends on where the assets are located. It all depends, etc., etc., etc.
Who is in charge of the Probate process?
Do I need to hire an attorney to go through Probate?
What does formal and informal administration mean?
How much does Probate cost? How do I control costs and expenses?
How long does Probate take?
Wills and Trusts
Many varieties of trusts exist, and it is important to understand how each may affect your desired goals.
The Basic Will
The Pour-Over Will
The Will and Contingent Trust
A-B, Credit Shelter Trust Will
Testamentary Trust
QTIP Trust
ILIT Trust
Living Trust