The single most important factor in determining when you will receive your inheritance is whether or not the inheritance is made up of probate or non-probate assets because not all assets are required to go through the probate process. Assets that bypass the probate process are typically distributed to beneficiaries shortly after the death of the decedent.
Topics covered in this report include:
- Probate Basics
- Testate vs. Intestate
- Probate vs. Non-Probate Assets
- Types of Probate — Formal Probate (Supervised vs. Unsupervised) and Small Estate
- Creditors of the Estate
- Will Contest
- Specific vs. General Gifts and Estate Liquidity
- Executor/Person Representative
Click here to read the whole article or download the PDF.
- The Magic of Grantor Trusts - November 1, 2023
- IRS Confirms Grantor Trust Status Alone Does Not Cause a Step-Up in Basis - October 26, 2023
- Understanding the Importance of the Simultaneous Death Act - October 19, 2023