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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 ...
It keeps estate details private: Probate filings are a matter of public record, so anyone can access the documents, including the will. Avoiding probate helps keep personal matters private.
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.
After executing a trust agreement, the settlor should ensure that all assets are properly re-registered in the name of the living trust. If assets (especially higher value assets and real estate) remain outside of a trust, then a probate proceeding may be necessary to transfer the asset to the trust upon the death of the testator.
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.
Drafting of the Uniform Probate Code began in 1964. The final version of the original UPC was promulgated in 1969 as a joint project between NCCUSL and the Real Property, Probate and Trust Law Section of the American Bar Association. Richard V. Wellman served as Chief Reporter on the project.