Why Do Trusts Avoid Probate? Unlike a will, which merely distributes your assets upon death, a living trust places your assets and property “in trust” which are then managed by a trustee for the benefit of your beneficiaries. It allows you to avoid probate entirely because the property and assets are already distributed to the
Can A Bank Foreclose On A Deceased Person? A borrower’s death does not forgive the loan. California law does not allow forgiveness of the loan due to the borrower’s death. If the probate estate defaults on a mortgage the lender may foreclose on the property. Losing the to be inherited real property to foreclosure would
What Is The Difference Between Testate And Intestate Succession? Intestacy describes a person’s estate where the decedent passed away without a last will and testament. This is known as dying intestate. Conversely, Testacy describes a person’s estate where the decedent passed away with a last will and testament. This is known as dying testate. What
How Do You Transfer Stock Ownership After Death? To facilitate a transfer, the executor will need a copy of the decedent’s will or a letter from the probate court confirming that the beneficiary in question is indeed the person entitled to receive the shares. The executor must then send these documents to a transfer agent,