Often, people come to my office seeking to avoid probate. They often report having heard frightening stories about the time and cost of the probate process but aren’t sure exactly what probate is. I will break down the basics in this post.
What is probate?
When a person dies, his financial affairs must be settled. There may be funeral expenses, medical and creditor bills that have to be paid. Assets may also need to be consolidated and distributed.
If that person has assets that did not transfer by way of trust, deed or contract, then the payment of funeral bills, medical and creditor bills, and asset… Read the rest