When someone passes away, their assets must go through the process of probate. This process is designed to ensure that the deceased’s assets are passed on in accordance with their wishes. But what happens when two people own an asset jointly? In such cases, there can be some confusion as to how to handle jointly-owned assets in probate.
If you’re a beneficiary to a loved one’s will or trust and you suspect malfeasance by the executor or trustee of the estate, what are your options? Can you have the person removed and replaced?
At its core, estate planning is about deciding how your property and finances will be handled after you pass. Because of its association with assets and death, many people often assume that being wealthy or retired are prerequisite to taking part in the process.
A 2022 Caring.com survey found that while 50% of Americans think estate planning is at least somewhat important, only 33% of them actually have a will or living trust in place. Many of them claimed to not have a will because they believed they did not have enough assets to leave behind.
Probate, which involves the administration of a deceased person’s estate, can be complicated and confusing. Unfortunately, there are many myths and misconceptions surrounding the probate process. Dispelling those misconceptions can help you get a better understanding of the process, your rights, and your options.
Why do so many people in Texas delay planning their estates? This procrastination fortifies the misconception that estate planning is an activity for the elderly, wealthy, and terminally ill. In fact, estate planning is best done early in adulthood and updated throughout your lifetime.
Probate is the process of settling the final affairs of a loved one. Parties involved in probate need to understand the legal terminology used to ensure that the administration of the decedent’s estate can proceed efficiently.
Losing a family member is one of the most heartbreaking occurrences anyone can experience in life. No matter how prepared you can be, it can be very difficult to say goodbye. However, there are some crucial tasks that you need to handle even while you grieve.
Probate is a court-supervised legal process to settle a person’s estate after they die, whether they have left a will or not, the latter of which is called “dying intestate” in legal terms.
