Similar to a Testament, a Changeable Agreement is a legal document that outlines the administration and allocation of your assets after your passing. However, a Changeable Agreement offers distinct advantages compared to a Testament. A Changeable Agreement allows for the immediate transfer of assets after death without involving the court. It also empowers the management of your affairs in the event of incapacity, eliminating the need for a guardianship or conservatorship process. By properly funding a Changeable Agreement, you can avoid the potentially costly and time-consuming public probate process. In summary, a well-designed estate plan utilizing a Changeable Agreement can grant your loved ones the ability to privately administer your estate with greater flexibility, efficiency, and cost-effectiveness.
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