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When a loved one passes away, the process of settling their estate begins, which involves determining the value of each asset and the estate’s total value. This valuation is not only crucial for fair distribution among heirs but also for meeting legal requirements....
When a loved one passes away, their estate enters a process known as probate. This legal procedure involves settling debts and distributing assets to beneficiaries. In probate, creditors fall into two main categories: secured and unsecured. The prioritization of debts...
Estate administration and probate court proceedings in California can take a year or longer to complete. During that time, the personal representative of the estate has to manage resources, attend court hearings and fulfill various other responsibilities. One of the...
When a loved one dies, their estate may undergo a legal process called probate. It is often a complex and time-consuming process that involves multiple steps. The first step is validating the deceased person's will. The next step is identifying and appraising their...
As you start planning your estate, you may encounter significant concerns regarding the probate process. This court-supervised procedure, which validates your will and distributes your assets to the right people after you are gone, can be expensive, public, and...
There is more to estate planning than just setting up inheritance to heirs and finding ways to minimize taxes. The process requires a lot of careful thought, planning, and proactive measures to ensure that loved ones do not go through probate. Probate is the process...
Many people create wills to protect their families and ensure they provide financial security and support to their loved ones even after they pass away. Parents usually include comprehensive terms to ensure their children receive their share of the assets during...
A variety of different people have an interest in an estate after someone dies. The family members of the deceased have an interest as heirs or beneficiaries. Close acquaintances or trusted individuals may have accepted a request to serve as the personal...
When creating a will, precision and adherence to legal standards are crucial to its effectiveness. When a will is poorly drafted, it can lead to several issues that might trigger challenges and potentially invalidate the will. Here are several ways poor drafting can...
When a person dies without a will, intestate succession laws can come into play, allowing the court to appropriately intervene and distribute the deceased's estate. These laws have provisions indicating specific designations concerning legal heirs and beneficiaries,...