Tag: proper-estate-planning
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What is Death Probate?
In legal terms, Probate refers to the court-supervised process of administering someone’s estate after they pass away. This process ensures the distribution of their assets and settlement of any outstanding debts. It involves gathering and valuing the deceased person’s assets, paying any taxes and debts owed, and distributing the remaining assets to beneficiaries or heirs…
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Why is it important to establish an estate plan?
Why is it essential to create an estate plan? Regrettably, many families neglect the importance of proper estate planning due to the misconception that their assets are insignificant or that their children can independently distribute them. If one fails to establish legal arrangements for asset management and affairs after their incapacity or demise, the intestacy…