Are All Asset Transfers Subject to the Probate Process?

The process of estate administration is something that you should gain an understanding of if you want to effectively plan your estate. Stating your wishes in writing is part of the equation, but actions must be taken after you pass away to bring these wishes to fruition. If you maintain direct personal possession of your property and you facilitate distributions through the terms of a last will, the executor will be forced to admit the will to probate. Probate is a legal process, and it takes place under the supervision of a court. Property that was in your direct and sole personal possession at the time of your passing could not be distributed until after the probate process was completed. There is an exception in the state of Connecticut. If the estate in question is valued at $40,000 or less, a simplified probate procedure could be utilized, and the full blown probate process could be avoided. Transfers Outside of Probate There are certain types of property transfers that would no
http://www.preserveyourestate.net/asset-transfers-subject-probate-process/

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