The process of probate is something that you should fully understand when you are engaged in your inheritance planning efforts. This process can enter the picture when assets are changing hands after someone dies. The probate court steps in to provide supervision when certain circumstances exist. For example, when someone passes away without any estate planning documents at all, the condition of intestacy is the result. Someone has to handle the business of the estate, so the probate court is … [Read more...] about Hartford Courant Looks at Connecticut Probate Court Fees
You may come across mention of the term "probate avoidance" if you are poking around looking for estate planning information. This can make you wonder if avoiding probate is really necessary. Let's look at the facts, and you can make the final decision. Court Involvement Probate is a legal process, and it takes place under the supervision of a court. There are certain types of asset transfers that would not be subject to the probate process, so assets can sometimes be transferred outside of … [Read more...] about Is Avoiding Probate Really Necessary?
There are some myths that circulate with regard to estate planning and last wills. Most people have heard of the role of the executor. An executor is someone who handles the administration of the estate after an individual passes away. Many people assume that there is a "reading of the will," and after it is read among family members, the executor can distribute assets more or less immediately. In reality, things do not work in this manner. There is a legal process called probate that enters … [Read more...] about Is Probate a Lengthy Process?
The probate process is something that you should understand when you are making estate planning decisions. Assets are not immediately distributed to the heirs in many instances. Some asset transfers are subject to the probate process, but some types of asset transfers would not go through the process. Before we define probate property, let's look at some asset transfers that would not be subject to the probate process. Living Trusts If you were to use a living trust as a vehicle of … [Read more...] about Are All Asset Transfers Subject to the Probate Process?
The probate court would not be involved in the transfer. This can sound like a turnkey arrangement, but you have to understand the fact that the person that you add to your title as a joint tenant would own half of the property immediately. As a result, the joint tenant would have to sign off on the sale if you wanted to liquidate the property. Plus, the property could be attached if the joint tenant was to run into legal or financial difficulties. Topics covered in this report include: … [Read more...] about Free Report: Is Probate Always Required in Connecticut Protection?
What Is the Cost of Probate? from Barry D Horowitz A noticeable portion of the estate can be swallowed up during probate. These expenditures reduce the inheritances that will be received by the heirs. Learn more about probate and its cost in this presentation. … [Read more...] about What Is the Cost of Probate?
The process of estate administration is something that you should gain an understanding of if you want to effectively plan your estate. Stating your wishes in writing is part of the equation, but actions must be taken after you pass away to bring these wishes to fruition. If you maintain direct personal possession of your property and you facilitate distributions through the terms of a last will, the executor will be forced to admit the will to probate. Probate is a legal process, and it takes … [Read more...] about Are All Asset Transfers Subject to the Probate Process?
Is Connecticut Probate Always Required from Barry D Horowitz If you establish this type of trust, the trustee would distribute assets to the beneficiaries after your passing outside of probate. Learn more about Connecticut Probate Always Required in this presentation. … [Read more...] about Is Connecticut Probate Always Required
Can Probate in Connecticut Be Avoided? from Barry D Horowitz Probate is the legal process of estate administration. If you die while in sole, personal possession of property, it becomes probate property at first. Learn more about probate in Connecticut in this presentation. … [Read more...] about Can Probate in Connecticut Be Avoided?
The probate process is something that you should understand when you are making estate planning decisions. This process would come into play if you use a last will to direct the transfer of your personally held assets. These resources would be looked upon as probate property at first. The assets could not be distributed to the heirs that you name in the last will until the probate court closes the estate. If you draw up a last will, you name an executor in the document. This is the person who … [Read more...] about What Is the Uniform Probate Code?