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.
From The Jaws Of Defeat: Snaring A Sweet Multi-Million-Dollar Settlement Instead Of Accepting Termination
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Probate, explained
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.