Wills, Estate Planning & Probate
Estate Planning is the process of preparing
for the distribution of your assets at your death. Some of the goals of Estate
Planning are to make your wishes known to those who will manage your estate,
manage or avoid the probate process, manage estate taxes, maintain control and
privacy. The process includes several tools, such as:
- Probate
- Wills
- Living Trusts
- Powers of Attorney for Health Care or Property
Probate is the legal process through which the court makes sure that, after you
die, your debts are paid and your property is distributed according to your
wishes. Someone, usually your personal representative designated in your will or
a family member, must request that probate proceedings begin and must keep the
court informed while your estate is managed and distributed.
The probate court could also become involved during your life, if you become
disabled, not competent to manage your own affairs, or if there are minor
children and both parents die or become disabled.