Estate administration is an important way to plan for one’s assets after they have died. By planning, their family and friends do not have to guess what they would have wanted for their estate. Through the probate process, individuals are able to plan for their estate administration in a valid way. Probate focuses on establishing the validity of an individual’s last will and testament. This is to ensure that their wishes were made freely. During the process, the value of a person’s assets will be determined. Their debts and taxes will be paid off. Once the debts are paid off, the executor will be able to carry out their main responsibility.
By planning for your estate, you can ensure that your possessions will be in good hands when you are gone. After you pass, your family will not have to worry about dealing with the distribution of your possessions. Instead, you will be preparing for them, which can help ease their emotional situation and relieve some stress from the experience. The probate process proves the validity of legal documents regarding estate administration. Probate involves the validation of legal matters regarding a deceased person’s estate.
What passes through probate?
A will is a legal document that ensures a person’s wishes regarding their estate are being followed after they die. In a will, a person has the ability to write down their wishes so that their executor and beneficiaries can understand what they wanted for their estate administration. Probate proves the legality of the will and allows the court to distribute the assets as they are outlined in the document. Before the deceased individual passes, they will have assigned someone as an executor to their estate. This person is in charge of making sure that the proper possessions are given to the right people. As an executor, they will have substantial responsibilities that require their cooperation.
A trust does not have to go through the probate process. Since it can avoid this process, beneficiaries may be able to acquire it quicker. The probate process takes longer so individuals have to wait to acquire their possessions. A trust can have tax benefits as well.
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Office of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.
