: all of a deceased person's estate that is administered under the jurisdiction of the probate court Note: Some assets, such as certain insurance proceeds, generally do not become part of the probate estate and are said to “pass outside of probate.” — residuary estate : all of wh...
it is because I believe that the materials are worthwhile reading or viewing; however, that does not mean that I do not or that I might not have a different view about some or even all of the subject matter or materials, or that I necessarily agree ...
While a revocable trust does give you more control over the assets within it, it also offers less legal protection – at least while you are alive. Since you have control over the assets, they can be subject to seizure by creditors, or by litigants in a lawsuit. ...
n. 1) all that one owns in real estate and other assets. 2) commonly, all the possessions of one who has died and are subject to probate (administration supervised by the court) and distribution to heirs and beneficiaries, all the possessions which a guardian manages for a ward (young pe...
Probate is a judicially supervised process for confirming the legal validity of a decedent’s Last Will and Testament, gathering his or her property, investments, and assets, paying off creditor bills and taxes, and distributing assets to the named beneficiaries. Probate is necessary when a person...
Probate Applications Application for the Certificate of Appointment of Estate Trustee, formally known as Probate Applications. This certificate provides the estate trustee theauthority to manage or distribute estate assets. Any deficiencies in the will need to be addressed prior to submitting this applicat...
Like a will, assets are detailed and specified as part of a trust. Unlike the will, trusts do not have to go through the same process of being filed through probate court. This can save time and, in some cases, on the taxes that go along with executing a traditional will. There are...
Most assets that are subject to probate administration come under the supervision of the probate court in the place where the decedent lived at death. The exception isreal estate, which may need to be probated in the county in which it is located.8 ...
The authenticity of a will is determined through a legal process known asprobate. Probate is the first step taken in administering the estate of a deceased person anddistributing assets to the beneficiaries. When an individual dies, the custodian of the will must take the will to the probate ...
James J. Carroll