Probate is an estate administration process. If you pass away while you are in direct personal possession of property, the distribution of the property would be subject to the probate process.This would be true if you had a last will, or if you had no estate planning documents at all. A caveat to the above statement would be that there is a simplified probate process that could be utilized if the assets that comprise the estate do not exceed $20,000 in value. If the assets do in fact exceed this amount, the full probate process would be necessary.
Topics covered in this report include:
- Probate Drawbacks
Click here to read the whole article or download the PDF.
Mark S. Eghrari is an attorney in private practice in Smithtown, New York. He has been in practice since 1988. Mark S. Eghrari provides extensive estate and tax planning services to individuals and businesses. Mr. Eghrari’s primary focus is helping clients avoid probate, minimize or eliminate Federal and State Estate taxes and protect their assets from the high cost of nursing care, if they become ill.
Latest posts by Eghrari Wealth Training Law Firm (see all)
- Elder Abuse: What Is It and How Do I Spot the Signs? - November 29, 2023
- Estate Planning and Taxes for New York Residents - November 22, 2023
- Does My College Student Need an Estate Plan? - November 15, 2023
Answers to Three Important Estate Planning Questions
See Larger Map
Get Directions