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Basic Doubts on Probate Answered

Basic Doubts on Probate Answered

JackXY
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Basic Doubts on Probate Answered

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  1. Basic Doubts on Probate Answered If you're like most people, you've caught the term, "probate," but aren't really sure what it denotes other than it occurs when someone passes away and attorneys are involved. To bring some understanding to the subject of probate, we're addressing common probate concerns below: What is probate? Probate is the court process of validating the decedent's will and settling the estate. The executor named in the will (or "administrator" if the decedent passed away "intestate," meaning without a will) gathers, protects, appraises, manages, and, in the end, distributes the decedent's assets and pays last debts and taxes under the supervision of the probate court. As executor, do I have to hire a probate attorney or can I do it myself? By law, you can probate the estate without an attorney in some states. Even so, practically, you should hire a probate attorney. The work is very technical and not intuitive. The probate attorney is paid from the estate, not from your personal funds. Moreover, as executor you are personally responsible for the estate assets and settlement. If you mess up, you can be held responsible and may lose your personal assets. Probate attorneys are highly educated and highly trained. Why do people want to prevent probate? Many people seek to prevent probate because it's public, pricey, upsetting, troublesome, and extensive. How can I avoid probate? The following forms of ownership prevent probate: - All assets owned by a revocable living trust; - Jointly owned assets; - Assets with a beneficiary designation (annuities, life insurance, and retirement accounts); - Assets held in trust for a beneficiary; and. - Pay on death and transfer on death assets. In addition, each state has a threshold and assets under that threshold prevent probate. And, any assets that you gift away during your lifetime prevent probate. If you have inquiries about serving as an executor, probate, or avoiding probate, be sure to speak to with a certified estate planning attorney. Speak with numerous qualified lawyers on probate. You can list of suggested prospects, assess the strengths and weak points of each lawyer. Compare the experience, education, track record and expenses of every one. Keep in mind that it may be that the priciest or skilled legal representative is not fit to your specific needs.

  2. Finally, select a probate attorney amongst your candidates and start dealing with him in your probate concerns. Get Probate Help Now – Contact: Escondido Probate Law 320 E 2nd Ave #217, Escondido, CA 92025 760-979-8096

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