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This is called a “fiduciary duty” The Law Firm of Steven F.Bliss Esq.San Diego probate lawyer A trust is not usually considered a part of your basic estate plan.
If a house is owned by two or more people as joint tenants,the other owners have the right of survivorship,which means that they inherit the entire property in their name San Diego probate lawyer 3914 Murphy Canyon Rd Suite A202,San Diego,CA 92123.
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When you die,your assets are distributed and your debts paid according to your will if you have one or else according to state laws of intestate succession During this period,the assets are subject to court supervision San Diego Probate Lawyer Your estate will pass to your heirs under the laws of Intestate Succession via a full probate proceeding.

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If there is no spouse,then the children receive the entire estate once they reach age 18 If there are no children,then the law will then look for the next closest relative to receive the estate San Diego Probate Lawyer probate lawyer Your estate will pass to your heirs under the laws of Intestate Succession via a full probate proceeding.
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The more questions you answer with a “yes,” the more likely it is that you can wrap up the estate without a professional at your side A trust allows an individual or household to designate somebody else,usually a trusted daughter or son,to transfer property after they pass away without the need for a court order San Diego Probate Attorney Since your signature is normally required to transfer assets in your name to a third party and being deceased you are no longer able to sign over your assets,the court then steps in and supervises the transfer of the assets and payment of the debts.
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San Diego Probate Attorney Step 1: Figure out who will be the estate representative:.
As a general rule,in San Diego and most of Southern California,Probate can take anywhere from eight months to two years to complete depending upon the complexity of the case Step 6: Close The Estate San Diego Probate Attorney A living trust does not go through the probate process upon a person’s death,which can mean a faster distribution of assets to beneficiaries with no additional costs.
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The Law Firm of Steven F.Bliss Esq.A letter of intent is simply a document left to your executor or a beneficiary.