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Probate - posted: January 5, 2005 - author: Wikipedia - In most states, after a person residing in that state has died, his property immediately becomes the property of his spouse, if any, without the need for probate. (This is the case in states that recognize a married couple's property as community property, tenancy in entirety, or tenancy in common.) If there is no click here for full text.
What Is An Estate - posted: January 5, 2005 - author: Wikipedia - Basically an estate is comprised of the tangible assets of personal property which belong to a natual person and must either escheat to the state upon the death of person, be beqeathed through click here for full text.
Trusts And Estates - posted: January 5, 2005 - author: Wikipedia - The law of trusts and estates is generally considered the body of law which governs the management of personal affairs and the disposition of property of an individual in anticipation and the event of such person's incapacity or death, also known as click here for full text.
Use Of Estates And Trusts - posted: January 5, 2005 - author: Wikipedia - Another major factor in trusts and estates law may be to minimize one's tax exposure. After an applicable exempt amount, the United States federal estate tax very quickly approaches 50% of one's taxable estate. The proper use of trusts may reduce one's tax burden. click here for full text.
Uses Of Trusts - posted: January 5, 2005 - author: Wikipedia - In order to expedite the process of transferring assets to intended benficiaries, some people choose to arrange their property so that it can bypass the probate process upon their deaths. For example, placing property into a trust before death (as opposed to a testimentary trust) will often allow click here for full text.
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