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The good news is that, with the right strategy, you can help facilitate a smooth transfer of assets to your loved ones — and potentially avoid the costly and slow process of probate. Here are ...
Probating an estate is an expensive, time-consuming and sometimes adversarial affair. It is possible, and sometimes advisable, to avoid probate. With the help of an estate planner and, perhaps, an ...
A transfer-on-death account is an arrangement that allows the assets held within a brokerage account to pass directly to a named beneficiary upon the account holder’s death, thus avoiding probate.
The planning includes the bequest of assets to heirs, loved ones, and/or charity, and may include minimizing gift, estate, and generation-skipping transfer taxes. [ 1 ] [ 2 ] [ 3 ] Estate planning includes planning for incapacity, reducing or eliminating uncertainties over the administration of a probate , and maximizing the value of the estate ...
Many trusts allow for additional deposits (cash, securities, real estate, etc.) at the direction of the settlor or others, provided the trustee is willing to accept those assets. It can even be funded after death by a "pour-over" provision in the grantor's last will, specifying his or her intent to transfer property from the estate to a trust.
After the testator has died, an application for probate may be made in a court with probate jurisdiction to determine the validity of the will or wills that the testator may have created, i.e., which will satisfy the legal requirements, and to appoint an executor. In most cases, during probate, at least one witness is called upon to testify or ...
Living trusts can act as probate-repellent, but some assets need to be kept out. I want to help my kids bypass probate when I die — here are 5 assets I won’t put in a living trust Skip to main ...
90) has shown that option contracts can mitigate the hold-up problem (an underinvestment problem that occurs when the exact level of investment cannot be contractually specified). [9] However, there is a debate in contract theory whether option contracts are still useful when the contractual parties cannot rule out future renegotiations. [ 10 ]