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Frequently asked questions about wills, trusts, probate and estate planning

  1. What is Probate?

    by on 12-15-2010 at 03:44 PM
    Probate is a legal process that can be confusing and time consuming, especially for families that haven't been through the process before. What is probate in layman's terms? Simply, it's the process that revolves around the changing of ownership of assets following one's death. Assets can include everything from real estate to bank accounts, investments, and automobiles. Whatever the deceased leaves behind is in play when probate begins. Probate is also tied to any debts or taxes linked to the deceased. ...
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    Wills & Trusts FAQ
  2. What are the differences between types of wills?

    by on 12-07-2010 at 03:46 PM
    There are several types of wills available for people in different circumstances. The legality of will types varies from state to state – it is advised that the person creating a will check with their attorney to make sure the type of will they’ve chosen is valid in their jurisdiction.

    Types of wills include:

    Simple Will: provides for the distribution of assets for an estate, best for uncomplicated cases. Forms can be found in books, at stationery stores, and online. ...
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    Wills & Trusts FAQ
  3. What is contesting a will, and who can do it?

    by on 11-16-2010 at 03:42 PM
    Who can contest a will?

    In general, someone who would stand to benefit from a will has legal standing to contest it. This typically means family members who might reasonably expect to be beneficiaries: children, spouses, close relatives. Your next door neighbor would have little standing to contest a will, particularly if you were not on friendly terms.

    What are some situations where contesting a will might be warranted?

    First, where there is confusion ...
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    Wills & Trusts FAQ