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Probate

What Is an Executor?

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If you use a last will to record your final wishes regarding the inheritances that your loved ones will be receiving, you nominate someone to handle the estate administration tasks after you die. This person is called the executor. The estate executor has a number of different real world responsibilities. It is not just a ceremonial honor that you bestow upon someone that you love and respect. You may imagine the executor reading a will after the funeral, and the idea would be that the … [Read more...] about What Is an Executor?

How Long Does the Probate Process Take?

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If you have not looked into the full story, you may think that a last will is a simple document that can facilitate fast, efficient asset transfers after you die. The idea is that the executor that you name in the document can follow your instructions and make things happen right after you pass away. This is a misconception. If you maintain personal possession of your property until the time of your death and use a will to state your final wishes, the executor would be required to admit the … [Read more...] about How Long Does the Probate Process Take?

Free Report: Is Pennsylvania Probate Always Required?

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There are expenses that accumulate during probate, and these costs reduce the inheritances that will ultimately be distributed to the heirs. In addition to the money factor, there is the matter of time. Inheritances are not distributed until after the process has been completed, and it can take close to a year, even if there are no snags. Topics covered in this report include: Payable on Death Accounts Joint Tenancy Life Insurance Policies Proactive Probate Avoidance Strategies Click here … [Read more...] about Free Report: Is Pennsylvania Probate Always Required?

What Is the Cost of Probate?

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There is a great deal to take into consideration when you are devising your estate plan. It can seem as though you simply carve out slices of a pie in writing when you create a last will, but the process of probate will come into play if you use a will to transfer personally held property. During probate there is a proving of the will. The probate court examines the will to make sure that it is valid in the eyes of the law, and arguments could be presented during probate if anyone wanted to … [Read more...] about What Is the Cost of Probate?

Is Probate Always Required?

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You may envision a scene that you have watched in a movie or on television. After someone passes away, an important figure calls certain people aside for a "reading of the will." The implication is that the representative will read the will, and the heirs will receive their inheritances shortly after the meeting. In reality, things do not work this way. A will must be admitted to probate. Probate is a legal process, and it takes place under the supervision of the court. This process provides … [Read more...] about Is Probate Always Required?

Estate Planning FAQs: Can Probate Be Avoided?

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When you engage in any form of financial planning, you are naturally going to do your homework. You do not make assumptions, because the stakes are high. The same logic should be applied to estate planning. Transferring everything that you have been able to accumulate throughout your life to your loved ones is a very important matter. You should understand all the facts so that you can be certain that you are providing for your family in the optimal matter. With the above in mind, let's look … [Read more...] about Estate Planning FAQs: Can Probate Be Avoided?