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What is probate and why should it be avoided?

Transferring assets upon death needn't be so costly

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Probate, or probating an estate, means distributing the assets of a deceased person after paying their debts. To express your desires about how you want your real estate, bank accounts, stocks, bonds and personal property distributed after you die, at a bare minimum you need a written will. Incidentally, please keep your written will where it can be easily found after your death. Do not put it in your bank safe deposit box! The reason is your relatives and friends might not be able to gain access to your safe deposit box. Personally, I keep my will in my desk drawer, clearly marked, and several people know to look there for it after I die. Purchase Bob Bruss reports online. If you don't leave a will, or if your relatives and friends can't find your will after your death, the state law where you resided at death will decide who gets your assets! This is called the law of intestate succession. The result might not be what you want, especially if you are involved in a second (or third, et...