HOW TO AVOID PROBATE - ALMOST
Posted by priscilya
Copyright c Jeffrey MatsenMost of us have heard that Probate is something to be avoided. Simply put, Probate is the legal process by the means of which the court system oversees the administration of your estate when you die. It supervises the payments of your debts and makes sure that your assets are distributed according to your Will, if you have one, or, if you don't, then according to the law of intestate succession of the particular state in which you reside.Why is Probate to be avoided? Well, first of all, it can be very expensive. Legal and Executor fees and other costs have to be paid before your assets can be distributed to your heirs. Normally, the basis for Probate compensation is based on the value of the property in your estate. If you own a residence or other real property, this means that Probate fees can be quite high. Moreover, if you own property in other states, your heirs could face multiple Probates each one according to the laws of that state. Another disad...
