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Preparing an estate to avoid probate is a complex task, so you may want to consider consulting an attorney who specializes in estate matters (a financial planner or accountant may also be able to ...
Depending on the nature of any given asset, there are ways to avoid probate. Probate is the process of managing and distributing someone's assets after they have died. For someone who dies with a ...
This is most common in states with community property laws. This means that a surviving spouse must pay the debts of the deceased spouse using jointly-held property, such as a home.
In common law jurisdictions, probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased; or whereby, in the absence of a legal will, the estate is settled according to the laws of intestacy that apply in the state where the deceased resided at the time of their death.
After the testator has died, an application for probate may be made in a court with probate jurisdiction to determine the validity of the will or wills that the testator may have created, i.e., which will satisfy the legal requirements, and to appoint an executor. In most cases, during probate, at least one witness is called upon to testify or ...
It is a trust that qualifies for the marital deduction, provided that the surviving spouse is given the income at least annually and the surviving spouse has a general power of appointment over the trust property remaining at his death. Most general powers of appointment are exercisable under a will. The holder of the power refers to the ...