Avoiding Probate — Why You Need an Estate Plan
Last quarter I explained the probate process and promised this quarter to write about how to avoid probate and to explain the advantages of preparing a revocable trust-based estate plan.
Last quarter I explained the probate process and promised this quarter to write about how to avoid probate and to explain the advantages of preparing a revocable trust-based estate plan.
Latex foam sales rep Kevin Callinan, a fixture in the mattress industry, was starting to contemplate retirement. Shevick Sales Corp. (SSC), owned by industry acquaintance Karl Shevick, sold latex mattress toppers.
When a loved one dies it can be difficult to know how to access their assets, manage their mortgage and other debts, and wind up their affairs. With limited exceptions, the only way to access assets owned by a person in their individual name is through probate, even if they have a valid will.