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You spend your life earning assets and creating an inheritance for your children and family. The best way you can keep it safe for them is to practice estate planning. You must take the first step to draft a will. You must remember that a will is subjected to probate via the court. The Will is your final testament and the document that takes into account what you want to leave to whom. Your beneficiaries can access your wealth once the probate is granted. How Does Probate Work As A Part Of Estate Planning You have a large estate and are using multiple tools to strategize a smooth take over by your legal heirs. A Will is an integral part
Do you want to know whether you will have to undergo Probate now that your loved one has passed and leaves a last will and testament behind? The first question that a good probate attorney will ask you is was there a trust setup as well or just a Will. If there was just a Will the answer is, yes you will have to go through Probate! Please keep in mind the time frame and costs associated with Probate can vary from county to county and state to state as well as the process and laws governing the process. The value of the estate plays a very important role in this. For example, estates with a total asset value under
Automation has been the pervading factor in all the walks of life today. The internet has facilitated many applications that allow you to do things at the click of a button. You can initiate an investment, you can buy and sell stocks and even pay your taxes online. In this era of digital independence, there has been a spate of automation that promises to do your estate planning for you. You will be attracted by cheap costs and apparent ease of functionality and imagine that legal documents can be pre-drafted by automation. But it is a fallacy! The Human Touch Is Integral To Estate Planning There are applications and software that can be filled by adding some data to them.
Studies show that nearly 60% of the American population has not indulged in estate planning. This is a gap that you need to address with haste. The misconception is that you do not require having a succession planif your assets are modest. But, the truth is that every person who has an income and asset needs to strategize. The aim is to keep your loved ones safe even after you are not there physically. The average layman has little idea about the constantly changing laws and taxation intricacies. It is important that you should take expert help to plan. The law states that without an estate plan your assets will be under the guardianship of the state at death. Every