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Estate Planning is the
process of preparing for the distribution of your assets at your death.
Some of the goals of Estate Planning are to make your wishes known to
those who will manage your estate, manage or avoid the probate process,
manage estate taxes, maintain control and privacy. The process includes
several tools, such as:
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Probate |
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Wills |
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Living Trusts |
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Powers of Attorney for Health Care or Property |
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Probate is the legal
process through which the court makes sure that, after you die, your debts
are paid and your property is distributed according to your wishes.
Someone, usually your personal representative designated in your will or a family member, must request that
probate proceedings begin and must keep the court informed while your
estate is managed and distributed. The probate court could also become involved during your life, if
you become disabled, not competent to manage your own affairs, or if there are minor children and
both parents die or become disabled.
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