Tag Archives: estates

Free Estate Planning Guide

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Free Estate Planning Guide

Free Estate Planning Guide

Free Estate Planning Guide Now Available Online

EstatePlanningGuide.org is pleased to announce that we have launched our free, downloadable and printable estate planning guide. This new estate planning guide will help educate you on some of the different estate planning options available to you. The complimentary guide on estate planning helps explain a variety of estate planning topics in a simple and easy to understand manner. This free estate planning guide is now available for download here.

What does the estate planning guide cover?

The estate planning guide covers topics such as wills, living trusts, probate, advance healthcare directives and power of attorney documents. The guide delves into what a will can accomplish and in what situation a living trust may be a better option for you. It provides you with a 10-part step by step guide on how to prepare your own estate plan. The estate planning guide also includes a comprehensive estate planning glossary to help ensure that your understand of all of the information included in the estate planning guide.

Who is the estate planning guide intended for?

If you are or have been considering creating a will, trust or estate plan, this is the guide for you. It begins by explaining what estate planning is and what can be accomplished with it. The guide also covers issues like probate, how long it can take and how it can potentially be avoided. The free estate planning guide even provides you with information on creating an inventory of your assets in preparation for drafting a will or creating a living trust. The estate planning guide also includes a section on how to find an experienced and capable estate planning professional in your area to assist you with your estate planning needs.

If you are ready to being you estate planning process, please visit the estate planning how to guide on our website located here. It is a condensed version of our free estate planning guide and will help you get started with your estate planning.

The Probate Process

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The Probate Process

The Probate Process

Information About the 7 Step Probate Process

Probate is a court administered process that transfers the estate of a deceased individual to named or remaining heirs. An estate is made up of the decedents real estate, personal property, life insurance, bank accounts, investments and personal belongings. In probate court, an executor (if there is a will) or an administrator (if there is no will) is appointed by the court as a representative to collect the assets, settle any debts and then distribute any remaining assets to the beneficiaries. All matters of probate are reviewed by the court. Each state has their own probate laws. Depending on your state, area and the complexity of the estate; probate can take anywhere for seven months to two years to complete.

The Seven Standard Stages in the Probate Process:

  • Stage 1 – Filing a petition in probate court and having probate initiated
  • Stage 2 – Issuing notices to heirs and creditors
  • Stage 3 – First probate hearing occurs and the proving of the will
  • Stage 4 – Collection of the decedents assets / estate assets
  • Stage 5 – Paying of creditor claims
  • Stage 6 – The filing of taxes for the estate
  • Stage 7 – Probate court closes the estate and any remaining assets are distributed to the heirs of the estate

When a person passes away, their assets and property will be distributed to any named heirs. In order for these assets to be distributed fairly a state probate process takes place. The probate process helps to ensure that all heirs are located, all of the decedents assets are accounted for and the creditors and taxes are paid for the estate.

Click here for a detailed explanation of the 7 steps of probate.