Consequently, the legal costs of probating an estate could be substantial. States that have adopted the UPC provisions on probate procedures allow informal probate proceedings that remove the probate court from most stages of the process, with the result that informal probate is cheaper and quicker...
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The probate process enables the decedent to ensure that the estate goes to the correct beneficiaries. Another purpose of the probate process is to ensure that any outgoings – debts and taxes – are paid out to the relevant creditors. These costs come out of the estate before the remainder...
it’s important to understand how living in a community property state can impact your liability for marital debts. If you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin), debts incurred after the marriage by one ...