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10 result(s) displayed (1 - 10):

October 19, 2011

Probate Form

A probate form is required when engaging in proceedings that take place in probate court. These include estate settlement, name changes, adoption, conservatorship, guardianship, recording or making changes to trusts, and litigation associated with probate estates.

The probate form is necessary to obtain a case number for probated estates or to record legal changes through the court. Records retained through probate court are a matter of public record and can be viewed by anyone that wants to see them. The exception to this rule is matters related to trusts

Trusts are used to safeguard estate assets and avoid probate. Within the U.S. every person's estate has to pass through probate upon death. This method is necessary to transfer property to designated beneficiaries and heirs; notify government entities of the death; clear outstanding debts owed by decedents; and file final tax returns.

Real Estate Investing article on "Probate Form"

August 16, 2011

Estate Agents

Estate agents are people assigned to oversee estate settlement procedures when a person dies. In most cases, people are appointed through a last will and testament, but might be confirmed through probate court to act on behalf of the estate.

State laws require estate agents to be of legal age and prohibit anyone with a criminal record from engaging in estate settlement procedures. The person chosen for this position should be capable of making sound decisions on behalf of the estate and rightful heirs. They should be good with finances and capable of providing detailed accounting reports, as well as being proficient with recordkeeping.

Real Estate Investing article on "Estate Agents "

June 29, 2011

Family Inheritance

Family inheritance is a prized possession that should be protected using estate planning strategies. Financial assets and valuable property can be transferred to direct lineage heirs and future generations through Wills and Trusts, as well as gifted on an annual basis.

Family inheritance is often a touchy subject, but it is important to openly discuss plans with family members prior to death. Many people feel there will be too much conflict if relatives know what they will receive ahead of time. The truth is family disputes over inheritance can be minimized by planning ahead.

Engaging in estate planning isn't difficult or expensive. All that is required is to take inventory of personal assets, financial portfolios, and titled property such as motor vehicles and real estate. Estate planners can advise whether estates can be sufficiently protected by a last will and testament or if a trust is better suited.

Real Estate Investing article on "Family Inheritance "

March 22, 2010

Estate Executor

Estate executor refers to an individual in charge of managing the estate of a person who has died. Estate administration duties will vary depending on the type and value of assets owned by the decedent and whether the estate is probated or protected through a trust.

Oftentimes, the estate executor of probated estates will require assistance from a lawyer or estate planner to ensure estate management procedures comply with probate laws. Probate is the legal process used within all 50 states to validate decedents' last will or appoint an estate administrator to manage intestate estates. Intestate means the person died without executing a last will.

Real Estate Investing article on "Estate Executor"

January 11, 2010

Inheritance Law

In the United States, inheritance law is governed by the Uniform Probate Code. In place since 1969, UPC is a statute that outlines what happens to assets, debts, and financial affairs of a deceased person. Currently 18 states have adopted the Uniform Probate Code in its entirety, while the remaining 32 states have adopted parts of it.

Although inheritance law varies by state, the majority adhere to similar processes. First, an estate executor must be appointed. Oftentimes the executor is appointed through the decedent's last will. If no will exists, or the appointed estate executor does not want to accept responsibility, an Administrator will be appointed through probate court.

Real Estate Investing article on "Inheritance Law"

November 04, 2009

Wills Probate

Wills probate refers to a legal last will and testament executed by a person who had died. During probate, the last will must be validated and the estate settled before inheritance assets can be distributed to designated heirs.

An estate administrator is appointed in wills probate. This individual can be a spouse, family member, friend, attorney, estate planner or financial expert that specializes in handling probate cases.

Real Estate Investing article on "Wills Probate"

October 10, 2009

Decedents

'Decedents' is a term used in legal documents to reference persons who have died. It is most commonly used in last wills, revocable trusts and irrevocable life insurance trusts. Wills and trusts are used to bequeath inheritance assets to beneficiaries.

Decedents can give their personal belongings, financial assets and real estate holdings to whomever they wish. Most individuals gift assets to their spouse, children or direct lineage relatives such as sisters, brothers, mother, father, nieces and nephews.

Real Estate Investing article on "Decedents "

July 03, 2009

Last Will and Testament

Executing a Last Will and Testament is a relatively simple and inexpensive process. A Will is used to bequeath inheritance to beneficiaries. There are many ways to draft a Will, but the most common is to utilize the services of a professional estate planner. Doing so can protect the Will from being contested in probate court.

The Last Will and Testament involves several elements. First, a probate executor is designated to handle estate-related affairs. Estate administrators are responsible for a variety of duties, so it is best to discuss this position with the person before naming them in the Will.

Real Estate Investing article on "Last Will and Testament"

June 11, 2009

Probate Wills

Probate wills are legal documents which detail information about a decedent's estate. A Will includes the name and contact information for the person who will be responsible for handling the estate, a list of assets owned by the decedent, and the individuals who will receive those assets.

Also known as the Last Will and Testament, probate wills are submitted to the local courthouse in the decedent's place of residence. Every Will must be validated to ensure it abides by probate laws and is legally-binding. Certain steps must be followed before distribution of assets can occur.

Real Estate Investing article on "Probate Wills"

May 30, 2009

Probate Courts

Probate courts were established over 200 years ago to handle legal matters governed by equity law. The primary difference between equity law and civil matters is that equity cases involve entering decrees which direct someone to act or refrain from acting.

Probate courts focus on life matters that do not involve monetary awards. The most common cases heard in probate courtrooms include inheritance, estates, trusts, guardianship and conservatorships. Probate laws vary by state, city and county. Most cases require the assistance of a probate attorney.

Real Estate Investing article on "Probate Courts"