The probate process can take many months, so be prepared for a long wait. You’ll likely work with the executor of the estate, a real estate attorney or the court to make an offer on the home.One thing to keep in mind is that probate real estate is usually sold as-is. The ...
Estate administration, or probate, can be formal or informal. An informal probate process is available for “small” estates, meaning any estate where the person who died has property that is worth $50,000 or less, or, if the person left behind a spouse, or $100,000 or less if the pe...
Finally, estate planning can ensure your assets—and your loved ones—avoid the stress of probate court. Without an estate plan, a judge may determine who receives your assets, how your cash is distributed, and who gets to raise your minor children. Who needs an estate plan? Generally speaki...
The life estate deed within a life estate is a document that grants the owner the ability to pass on ownership of a property without including it in a will as part of their estate assets. The property doesn't have to go throughprobate, the court process that's used to distribute bequest...
Probate is the court process for determining whether a will is valid, identifying the beneficiaries and distributing a deceased person’s assets and property. Whether you have a will or not, your estate will have to pass through probate u...
Learn about what probate is and the common questions and steps involved.
Depending on the estate owner’s intentions, a trust can go into effect during their lifetime (living trust) or after the death of the individual (testamentary trust).2 The authenticity of a will is determined through a legal process known asprobate. Probate is the first step taken in admi...
Cons: Estates could be stuck in probate, can be superseded by beneficiary designations, estates can be made public Who is it good for: Anyone with assets, regardless of how much A will is another key document in the estate plan. At death, it directs where the assets go that you own ...
Other circumstances when probate may be necessary: The will is handwritten or the terms aren't clear A beneficiary or heir is a minor without a guardian or conservator The court needs to supervise the entire process An heirship hearing is required Probate assets include real estate or land (re...
A probate bond is a type of bond that serves as a guarantee that the executor of an estate will perform his or her duties...