How To Avoid Probate.
The formal legal procedure known as "probate" designates the executor or personal representative who will manage the estate and transfer assets to the specified recipients and recognizes a will. The procedure of administering your estate and transferring your possessions after death in accordance with the terms of your will under the court's supervision.
Depending on the state you reside in, Living trusts assist in prevention of probate by transferring property under their terms after the grantor's dying. A living trust can be a highly useful tool to manage assets in the event of illness, disability, or the effects of aging provided it is created and managed appropriately.
The use of living trusts to reduce the danger of elder financial exploitation and manage related issues should be a key factor in an estate plan.
The probate process can be expensive, so it can be wise to keep such fees to a minimum.
Costs of administration, professional time, and court fees are examples of accumulated expenses.
If you are interested in learning more about working with the Law Offices of Senerchia & Sheehan on your Estate Planning, reach our offices today!
Schedule a call with one of our attorneys today: 401-615-3880
Email: [email protected]
The Law Offices of Senerchia & Sheehan and a family-owned company with a mission of putting families first. We take great pride in being able to assist members of our community get back to a stress-free life.
Disclaimers: This article is used for reference only and not intended to be legal advice. If you are looking for Legal counsel, please call our firm today!