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Any assets not included in the trust may still have to go through probate. It can also cost a few thousand to create a trust with the help of a lawyer. Other estate planning strategies
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 ...
Estate of Heggstad, 16 Cal. App. 4th 943 is a legal case heard by the California Court of Appeal concerning the probate the estate of Halvard L. Heggstad and mislabeling of property within a trust. Background
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.
Many trusts allow for additional deposits (cash, securities, real estate, etc.) at the direction of the settlor or others, provided the trustee is willing to accept those assets. It can even be funded after death by a "pour-over" provision in the grantor's last will, specifying his or her intent to transfer property from the estate to a trust.
California allows a person with a claim to assets in the estate of someone who has died to collect them without going through formal probate by using an affidavit for collection of personal ...
In law, an equitable interest is an "interest held by virtue of an equitable title (a title that indicates a beneficial interest in property and that gives the holder the right to acquire formal legal title) or claimed on equitable grounds, such as the interest held by a trust beneficiary". [1]
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.