August 25, 2008
What is Probate and Estate Settlement?
When a person dies the process of distributing the decedents assets become the responsibility assigned by the Last Will and Testament of the decedent. If there is a living trust and "Pour-Over Will" the trust document will become the instrument to settle the affairs of the estate. What ever is titled in the name of the trust avoids the probate process and provides the trustee of the trustee greater flexibility over the assets and likely lower administrative expenses. Also assets with properly named beneficiaries avoid the probate process; such as retirement accounts and life insurance policies.
If there is not a trust then the Will becomes the governing instrument for handling the estates affairs. Assets titled in the sole name of the decedent will proceed through the probate process. The legal definition of probate is… the process of proving the validity of a will.






