Estate planning isn�t about the end of life,it�s about preserving the life you love When a loved one or family member dies with just a Will,or no estate plan at all,his or her family is needed to put the estate through a court-managed process called probate.
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You’ll also need to pay all applicable taxes,as well as file a final income tax return on the estate.
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Check to make sure that all of the persons and entitles listed on Attachment 8 of the Petition for Probate have been given notice Folsom Probate Law Estate Planning The main reasons for setting up an irrevocable trust are for estate and tax considerations.
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Folsom Probate Law Trust Lawyer In the case of a small estate,or if the decedent left his assets in trusts or gifted them prior to his death,probate may not be necessary.
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Then the court will schedule a hearing to approve the executor (or hear objections from other parties) need.
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It is usually a good idea to set up an estate account for paying the estate’s final bills and expenses tax.
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