What is probate?

Any property that is transferred by will is subject to probate, which is the legal process of verifying your will through the courts. Probate can be slow and costly. That's why many people choose to create a living trust to convey most of their property to their loved ones. Forming a living trust makes sense for just about everyone, but it's important to realize that it does not prevent probate-it only speeds up the probate process. You still need a will that names an executor for your estate and a guardian for any minor children. All wills must go through probate. Period.

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