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Probate is the judicial process by which a decedent’s estate is valued,beneficiaries are determined,an executor in charge of estate distribution is declared,and the estate is legally transferred to the determined beneficiaries Pay off any debts Probate Law Estate Planning.
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The following estate plan checklist will explain various types of estate planning documents,and help you evaluate those that will be of value to you Estate Planning Law 3914 Murphy Canyon Rd a202,San Diego,CA 92123 San Diego Probate Attorney The 2nd file,called a living will,enables you to choose how you want to be dealt with if resuscitation or life assistance is needed.
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In New York State,and as with lots of other states,a last will and testament need to be (1) in writing; (2) signed by 2 witnesses; and (3) stated by the testator to the witnesses that they are signing a will In this instance,the trust account�managed by the trustee�holds the trust assets for the education,medical care,and general support of the minor until the age of majority,after which he would inherit the assets directly as a beneficiary Estate Planning Law Estate Lawyer.
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The trustees of special requirements trusts can be relative or,if a suitable and trustworthy family member is unavailable,a 3rd party will be designated by the court.