See If An Estate Plan Is Right For You
The assets that are included in the probate process include everything that was owned by the individual, other than items that:
- Are jointly owned by another individual
- As title or held by a trust
- Pass automatically upon death outside of probate
The court will appoint an executor of the will if there is one. If there is no will, then someone else is appointed – typically a close family member if there is one. Many of the tasks of executing the will then fall upon the estate’s executor.
Due to the process and fees involved with probate, many individuals choose to do an estate plan that allows for probate to be bypassed.
Trust Administration Services
When a trust is set up as part of an estate plan, the estate administration can proceed without going through probate. The directive of the trust itself will allow for the deceased’s assets to be passed on to the designated beneficiaries.
Because trusts and wills are different and cover slightly different assets and scenarios, it is often recommended to have a will and trust set up as part of a complete estate plan.
And although trusts often make the process significantly more manageable than a simple will, complexities often arise that make it necessary to have an estate planning attorney involved in the process to assist. The trustee may often seek the services of an attorney as they are going through the process.
Collins Law Firm handles estate planning for Wauwatosa, Pewaukee, and the greater Milwaukee area. Call the firm today at 414-207-6292 to get started.
