| The Probate Process--When is it Necessary |
Probate is necessary when a person dies without a will or with a will (Last Will & Testament) and leaves sufficient assets to require a statutory probate process. In other words, unless the assets bypass probate by means of another tool, they will have to be probated. What kinds of tools bypass probate? Examples include, a Revocable Living Trust, ownership of an asset as "joint tenants with the right of survivorship," payable on death securities, and life insurance beneficiary designations. There are also other methods to miss probate, but one must be careful. The wrong method can create more problems than it solves. How long does a probate take? Continue |
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