Probate

Business / Taxes / Probate: Probate is the process of authenticating, or verifying, your will so that your executor can carry out the wishes you expressed in the document for settling your estate and appointing a guardian for your minor children. While the probate process can run smoothly if everything is in order, it can also take a long time and cost a great deal of money if your will isn’t legally acceptable or it’s contested by potential beneficiaries who object to its terms. If you die without a will, the same court that handles probate resolves what happens to your assets based on the laws of the state where you live through a process known as administration. The larger or more complex your estate is, the greater the potential for delay and expense.

Probate Estate

Business / Taxes / Probate Estate: Your probate estate includes all of the assets that will pass to your heirs through your will. It doesn’t include anything that you have sold, given away, put into trusts, or passed directly to reci MORE

Payable-On-Death

Business / Taxes / Payable-On-Death: A bank account titled payable-on-death (POD) lets you name one or more beneficiaries to whom the assets are paid when you die. POD accounts can be useful estate planning tools in the states where they MORE

Per Capita

Business / Taxes / Per Capita: Per capita is the legal term for one of the ways that assets being transferred by your will can be distributed to the beneficiaries of your estate. Under a per capita distribution, each person named a MORE

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