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Probate and Trust Administration PROBATE: There are two kinds of probate -- Living and Death probate. Living probate is formally known as Guardianship and Conservatorship. It is necessary when a person is incompetent and no other legal documents are in place to permit others to carry on the incompetent person's affairs. Death probate is necessary to pass on any assets that were titled in a person's individual name at death. Death probate consists of two forms -- Testate Succession (with a valid will) or Intestate Succession (with no will or an invalid will). Under intestate succession, state law lists the categories of relatives who will receive your "stuff" and in which order. All probate is a court supervised legal proceedure and, consequently, a public record with inherent costs and delays. HAHN & POLLOCK handles probate matters with the goal of minimizing delays and costs. TRUST ADMINISTRATION: Although probate can be avoided when a trust is involved, certain steps must be performed when the trust's creator dies. These steps are called "trust administration". Trust administration does not require court supervison so the costs and delays are reduced. HAHN & POLLOCK administers the trust for a smooth transition of assets to the trust beneficiaries. We also educate successor trustees to be certain they can successfully understand and manage on-going trusts. |
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