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It’s the process after death whereby a will is presented to the probate court to be recognized as valid If a loved one who has passed did his or her homework in advance of death and properly prepared and executed individual designated as the will’s executor takes the original will, along with the decedent’s original death certificate, to the probate court of the county in which the decedent resided at the time of death. The will cannot be admitted to probate until a set time, such as ten days from the death of the decedent

— Probate is complex , and it is a legal process that validates a will and distributes assets after death Estate planning can help you establish a legacy and support causes that are important to you. your goals: Wills and trusts — A will outlines how you want your assets to be distributed after your death cash, securities, real estate, and other assets to charity, either during your lifetime or after your death planning — Insurance planning can help you ensure that your loved ones are provided for after your death

However, in order to do this, you need to collect the following documents: At least 10 original death certificates (from the funeral home or the Vital Statistics office where the death occurred); Estate With these documents and information at the ready, notify these institutions of the death to close out

A will is a legally binding statement directing who will receive your property upon your death. Pay on Death accounts. Investments in Transfer on Death accounts. Some stocks and bonds are held in accounts that transfer on death to a named beneficiary. In many situations, wills are often not found until days or weeks after death.

according to The International Business Times in “Prince ‘made no will’ for his $300m estate before death action” was required to deal with Prince’s business affairs because he didn’t leave a will before his death Reference: International Business Times (April 26, 2016) “Prince ‘made no will’ for his $300m estate before death

means that someone in your life trusts you to act in their interests in the moments following their death Managing a trust that provides instructions for asset distribution after someone’s death comes with several Administration Works in Texas In most cases, administering a trust begins at the time of the trust creator’s death Obtain official date-of-death values, the death certificate, and appraisals. trustees face include: Analysis Paralysis – Lacking experience with trust administration procedures causes

just like your home and other assets, planning needs to be done for how it should be handled upon your death Unfortunately, the death of a small business owner can also spell the death of the business. Within nine months of your death, as much as 50% of the business’ worth can be due to the IRS.

arrangements to manage your assets and ensure that they are distributed according to your wishes after your death — Estate planning allows you to appoint guardians for your children in the event of your untimely death Avoid probate — Probate is the legal process of distributing your assets after your death. A will is a legal document that outlines how you want your assets distributed after your death. You can name someone you trust to take care of your children in the event of your death.

A recent post on cincinnati.com, “Tough task: Dividing assets after a death,” asks this question: when If not, the slighted heir may claim that it was caused by an oversight, error, or loss of cognitive ability Reference : Cincinnati.com (May 18, 2016) “Tough task: Dividing assets after a death” #AssetProtection

you to benefit from the trust now while arranging for assets to be passed to a beneficiary upon your death Upon your death, a revocable trust can be transferred over to a successor trustee and other beneficiaries Charitable Trusts A charitable trust can help you earmark funds for your favorite cause or organization Trusts Yes, you can even ensure your “fur baby” is taken care of in the event of your disability or death into the trust now or making sure their beneficiary designations are done correctly so it occurs upon death

beneficiary in the current year must be used Not taking the Required Minimum Distribution (RMD) after death December 31st each year Not establishing the inherited IRA before December 31st of the year following the death

situation and one where Texas probate attorneys urge their clients to proceed with caution as it may cause property jointly with someone else, or drafting a type of deed where the property is transferred upon death However, probate lawyers caution that this type of planning must be done BEFORE death, and attorneys