Problems with Probate

Problems with Probate

Many people have heard they should avoid probate, but few understand what probate is and how the process works.

What is Probate?

Probate is the legal process that wraps up a person’s legal and financial affairs after their death. During the probate process a person’s property is identifies, cataloged, and appraised. In addition, probate makes certain any outstanding debts and taxes are paid. It can be a complex process, filled with very specific legal requirements.

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Considerations when Choosing Your Executor

While no one would likely characterize drafting a will as an exciting task, it certainly is an essential one. After all, over the course of your life you've built a unique legacy — one that is marked not only by your personality, character, passions, friends and family, but also by the assets you've accrued, savings, investments, charitable causes and most treasured possessions. Surely, you wouldn't want that legacy to end up in the probate courts, so you must appoint an executor to manage your will and/or estate. Designating an executor is equally important as creating a will; therefore, you must exercise just as much careful thought when selecting the individual who will serve in this capacity.
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Considerations When Choosing Your Executor

While no one would likely characterize drafting a will as an exciting task, it certainly is an essential one. After all, over the course of your life you've built a unique legacy — one that is marked not only by your personality, character, passions, friends and family, but also by the assets you've accrued, savings, investments, charitable causes and most treasured possessions. Surely, you wouldn't want that legacy to end up in the probate courts, so you must appoint an executor to manage your will and/or estate. Designating an executor is equally important as creating a will; therefore, you must exercise just as much careful thought when selecting the individual who will serve in this capacity.

The executor of your will bears a number of responsibilities after your death, so if you want your final wishes to be followed to the T, choosing the right person to carry out those responsibilities is absolutely imperative.

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