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Probating an estate is an expensive, time-consuming and sometimes adversarial affair. It is possible, and sometimes advisable, to avoid probate. ... Most would say yes primarily for these reasons ...
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 jurisdiction where the deceased resided at the time of their death.
Where the executor dies intestate after probate without having completely administered the estate; Where an administrator dies. In the first case the principle of administration cum testamento is followed, in the second that of general grants in the selection of the person to whom letters are granted.
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 ...
As the assets aren't considered a part of your estate, they sidestep the probate process. It also lets you continue to use assets transferred into the trust, such as property or investments you own.
In general, the process of probating any assets should be avoided where possible because probate is time consuming, often taking 9-15 months, and can be expensive with court costs and attorney’s ...
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