Acquire Financial Solutions, LLC
  • Home
  • Blog
  • Careers
  • Contact
  • Insurance
    • Annuities
    • Disability Insurance
    • Health Insurance
      • Dental Plans
    • Life Insurance
    • Long Term Care Insurance
  • Legal Plans
  • Living Trusts
  • Useful Links
    • Real Estate Investing
  • Home
  • Blog
  • Careers
  • Contact
  • Insurance
    • Annuities
    • Disability Insurance
    • Health Insurance
      • Dental Plans
    • Life Insurance
    • Long Term Care Insurance
  • Legal Plans
  • Living Trusts
  • Useful Links
    • Real Estate Investing
Search

What Is Probate and Why get a Living Trust?

9/3/2020

0 Comments

 
Probate is the court supervised process by which a decedent’s assets are transferred to his heirs, either by his Will, or if there is no Will by the statute of intestate succession. The word "probate" has its origins in the Latin "probatum" which means a "thing proved" and "probare" which means "to prove".

Assets Subject to Probate
  • Personal property such as vehicles, furniture, artwork and jewelry
  • Financial accounts owned individually rather than jointly with the right of survivorship or without a payable on death beneficiary
  • Real estate that is owned individually rather than jointly with right of survivorship
  • An ownership interest in a business whether a sole proprietorship or individually owned shares in a small company.
Assets NOT Subject to Probate
  • Annuities
  • Life insurance proceeds
  • Retirement plan benefits from IRAs, 401(k)s or profit sharing plans
  • Property jointly titled with the right of survivorship
  • Assets held in a living trust or with a designated beneficiary
The Probate Process:  The probate process involves notifying the decedent’s heirs at law and the beneficiaries of the decedent’s Will of the existence of the Will. The notice provides them the opportunity to contest the Will in the event that the decedent did not have the requisite mental capacity or was unduly influenced by a beneficiary. The probate process also involves compiling a list of the decedent’s assets so that the assets may be distributed according to the decedent’s wishes. Finally, probate involves accounting for all of the assets in the decedent’s estate, including the payment of estate taxes, debts and expenses incurred by decedent during his life or as a result of the administration process.

An executed and fully funded Heritage Living Trust will avoid Probate. Need Help? Have Question? Call or Email Ram Mishra for more information.

​Ram J. Mishra, 877-265-1856
Visit Me @ www.AcquireFinancialSolutions.com

0 Comments



Leave a Reply.

    Picture

    Ram Mishra

    👨‍👩‍👧‍👦Insurance Agent💵
    🏘️Real Estate🏥
    🏘️Investor🏥

    🗽Entrepreneur🏝️

    Archives

    July 2021
    June 2021
    November 2020
    September 2020
    February 2020
    October 2019
    January 2019

    Categories

    All

    RSS Feed


Home 
  • Blog
  • Careers
  • Contact
​Insurance
  • Disability Insurance
  • Fixed & Fixed Indexed ​Annuities
  • Health Insurance
  • Life Insurance
  • ​Long Term Care Insurance
Financial Solutions
  • ​​Legal Plans & Identity Theft Protection
  • ​Living Trusts
Real Estate Investing
Useful Links

Questions? Call Us At 877-265-1856

© 2022 Acquire Financial Solutions, LLC

Acquire Financial Solutions, LLC is a Licensed Life & Health Insurance Agency offering Insurance and Financial Solutions. None of the information provided is intended as investment, tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement, of any company, security, fund, or other offering. The information should not be relied upon for purposes of transacting securities or other investments. The content is provided 'as is' and without warranties, either expressed or implied. Acquire Financial Solutions, LLC does not promise or guarantee any income or particular result from your use of the information contained herein. It is your responsibility to evaluate any information, opinion, advice or other content contained. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, or other content.

  • Home
  • Blog
  • Careers
  • Contact
  • Insurance
    • Annuities
    • Disability Insurance
    • Health Insurance
      • Dental Plans
    • Life Insurance
    • Long Term Care Insurance
  • Legal Plans
  • Living Trusts
  • Useful Links
    • Real Estate Investing