Does a will equal probate?

Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 4/13/2007 3:35 pm
Probate is simply the state court procedure required by law where the court that has jurisdiction administers your estate after your death whether or not you had a will. The court first decides if your will is valid. It then apportions your estate according to your wishes as designated by your will. Most persons prefer to avoid the probate process altogether. There are various ways to avoid probate, or at least keep the process and costs to a minimum. This is done simply by placing your assets in a form of ownership that will not be distributed by your will, or in a form that will not go to your heirs if you have no will. Some of these probate-avoiding options are: placing your assets in a revocable trust, irrevocable trust, or living trust; having a named successor beneficiary on your annuities, your life insurance policy, and your pension; owning a life estate and remainder; and owning property jointly with the right of survivorship. Any remaining assets that are owned by you alone are the only assets that will then be subject to your will and possible probate.
Share
NEWSCASTS ON DEMAND

What's On

All content © Copyright 2014 Intermountain West Communications Company. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.
You may also view our Sitemap

Inergize Digital This site is hosted and managed by Inergize Digital.
Mobile advertising for this site is available on Local Ad Buy.