Probate
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Houston Probate Attorney
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What is Probate?
Probate is the formal legal process that gives recognition of a will and appoints an executor or personal representative to administer assets. The laws vary from state-to-state, so it’s important for people who are planning on leaving their estates behind them in this fashion consult with attorneys beforehand about whether they’ll need probate proceedings at all as well as what must be done if probate will be necessary.
Many people believe that probate proceedings are expensive and prolonged, while this is true in most cases, the best proactive plan is an effective estate plan that includes a living trust.
Probate is an inevitable part of the estate process, but it doesn’t have to be as difficult or time consuming. Probate avoidance techniques should be employed to ensure that most assets transfer during your lifetime with the remaining shortly after passing.
In planning your estate, more important than minimizing probate is making sure that you don’t find your estate assets tied up in litigation between your loved-ones, or heirs.
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Should You Avoid Probate?
Avoiding probate is a common estate planning method and can be helpful in some ways. If you have large assets or complicated property ownership structures, then getting everything transferred without going through court proceedings could save time and money on your end-of life plans. Additionally, there are other times where probate isn’t necessary like small estates with few assets involved.
It can be a tough decision to decide who inherits your property after you die. There are various ways that people want their assets divided; consulting with an experienced Estate Planning Attorney can help you navigate tough decisions concerning your estate goals.
The Living Trust: A Safe Way To Avoid Probating Assets At Death
A properly drafted will can eliminate some of the steps otherwise required in a probate proceeding. Probate laws are different from state to state, but many wills have been found to be effective at avoiding this process altogether by transferring assets into an estate that passes under your name after death instead through what’s known as “probating.” However, if you die without one or make other mistakes regarding ownership then there may not actually any value passed on from yourself during these proceedings which could result either way depending on how complex it gets with each specific jurisdiction’s rules–so do plenty of research first.
A living trust allows you to avoid many of the delays and hassles that come with probate, but not all. The best way is by transferring your assets into an out-of-state or international bank account before setting up any paperwork for this type of legal document (which should only be done after consulting with an attorney). It’s also important to know what will happen if there are tax issues connected with transfer.
Property that passes at death through a revocable living trust must be transferred to the trust, administered by an independent trustee who may or may not charge fees. There are other costs associated with this step like real estate transfer taxes and probate court filing fees; these vary depending on where you live but it’s important for anyone considering making such changes in their life plan-a comparison of how much they’ll save is imperative before signing anything!
Living trusts have great value as part of estate planning, but they’re not necessarily needed to avoid probate. In fact a living trust can be an excellent tool for managing assets in the event you become disabled or ill and need help with your finances because most people don’t know how complicated things get when they age! That’s why it is so important that we take care now before our loved ones go through this transition stage later on down the line – using proper legally binding documents will ensure peace-of mind during difficult times without worrying about whether someone else might try to take advantage.
Probate FAQs
Step 1: Filing the Application
Step 2: Posting of the Application
Step 3: Validation of the Will
Step 4: Cataloging Assets
Step 5: Identify Beneficiaries
Step 6: Notifying Creditors
Step 7: Resolving Disputes
Step 8: Distributing Assets
The probate process is the entire system for administering an estate after someone passes away. This includes everything from tax responsibilities and debts to possessions, so it’s important that you have a say in how your money or assets will be distributed when they’re gone! If there are any questions about this type of law matter feel free get back with us because our attorneys here at Brown Law PLLC can help guide all aspects towards clarity.
The federal estate tax is complicated, but it’s important to know. The amount of assets that are subject to this taxes varies depending on your lifetime and the year you pass away in particular; for example if someone dies during calendar years 2021-2022 then they will be taxed at 18% or 40%.
Your executor is responsible for gathering your assets, making sure your debts and taxes are paid, and distributing the money to your beneficiaries.
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Contact Details
- Address : 5850 San Felipe Street, Suite 500, Houston, TX 77057
- Phone : (713) 554-4975
- Fax : (713) 554-4974
- Email : [email protected]
Working Hours
- Monday to Thursday: 9.00 AM – 5.00 PM
- Friday: 9.00 AM – 12.00 PM
- Saturday: By Appointment
- Sunday: Closed
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After 19 years of practicing Law, Christy has amassed a diverse repertoire of experiences in:
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