Articles of Interest

Living trusts are commonly marketed to the general public as a way to avoid having one’s estate managed in probate court after one dies. Probate is the legal process of transferring assets from a person who has died to the person, people, or organizations designated in the deceased person’s will or, if no will exists, to the deceased person’s heirs. The general rule is that probate is necessary when a person dies and the assets owned solely by the person total more than $100,000 or include real estate—there are exceptions to this rule that an attorney may address after reviewing an estate. The probate process can sometimes be costly and time-consuming, especially for larger estates. For a small estate, however, the probate process can be efficient.

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