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Once a petition to probate an estate is filed,the court will issue an order setting a hearing Any interested party will receive notice of the hearing The Law Firm of Steven F.Bliss Esq.probate attorney (858) 278-2800.
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If a particular asset (like a retirement plan,life insurance policy,or a bank account) already has a named beneficiary,that asset goes to the beneficiary (or beneficiaries,if there are more than one) without going to court Steve Bliss Law probate attorney A living trust is another way to manage what happens with your assets and is worth discussing with your estate planning team.
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Is there enough money in the estate to pay debts Steve Bliss Law San Diego probate lawyer A living trust is a separate legal entity and has full legal authority on its own and thus can avoid the probate system entirely,can manage all of your estate distribution and management desires,can accomplish substantial savings on estate taxes,and can remain totally private so that no one knows your business except those persons that you want to have knowledge of your personal and financial affairs.
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The personal representative should obtain a certified copy of the Letters Testamentary so that he or she can demonstrate the necessary legal authority to handle the estate In the event that family members need money to survive,they must request it of the court which takes time and can be denied San Diego probate law A Grantor Retained Annuity Trust,or GRAT for brief,is an unique type of irrevocable trust that permits the Trustmaker/Grantor to gamble versus the odds and,if the Trustmaker/Grantor plays their cards right,then a considerable amount of wealth can be moved down to the next generation for essentially no estate or gift tax dollars.
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Who the beneficiaries or heirs are is usually decided by The Law Firm of Steven F.Bliss Esq.San Diego probate lawyer If a house is owned by two or more people as joint tenants,the other owners have the right of survivorship,which means that they inherit the entire property in their name.
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San Diego Probate Law San Diego probate lawyer Their “estate” is the property they owned when they died.
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