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IntestacyWhen an estate is classified as being intestate, the owner of the estate has died prior to establishing a legal will. As a result, an administer must be appointed to distribute the deceased's assets following established intestacy laws. Intestacy rules are specified in the Succession Act of 1965.Testamentary TrustA testamentary trust is often established by parents who..

What is asset management?Asset liability management is a concern of asset management which seeks to minimize the risk associated to the asset control practiced by a probate for an estate, although asset liability is commonly also considered a focus of businesses, corporations, and organizations. The broad field of asset management attempts to strike a balance between the credit..

A grant deed is a legal document that is most commonly used in real estate dealings. The grant deed will allow for the legal transfer of the ownership to title from one party to another. In such case, the parties are defined as the grantor, the party transferring the title, and the grantee, the party receiving the title. When a grant deed is used, it will define that the granto..

Quick Guide to Alabama Probate CourtAlabama Probate CourtThe state of Alabama has very specific laws regarding probate court.  There is an Alabama probate court located in every county, and a specific judge is appointed to each court within the state.  Information for finding Alabama probate courts will be listed farther below in the article.  Specific Steps for ..

Executor b/gThe executor of a will bears the responsibility for making sure that the provisions of the will are followed. Executors and executrices fulfill the same role. The only difference is that executrices is the somewhat outdated which that accounts for when the responsibility of serving as an executor of a will is handled by a woman. If there is not a will, then the role..

Asset finance is a branch of finance that is concerned with financial investments that are backed by asset security. Like liquid assets, asset based financing is vital to increasing the value of an individual's estate. In order for an individual to cautiously amplify his/her estate, it is important that he/she practice effective financial asset management.If he/she fails to man..

Asset ValuationAsset valuation is the process that is used to determine the value of an individual's estate after he/she has died. Following the death of an individual, his/her estate will be subject to asset inventory, which is completed by the state in which he/she lived. This process must be complete for tax purposes.Total AssetsWhen an individual dies, his/her estate will a..

The probate estate can be used to describe an estate that is in probate. Probate law handles issues that deal with the administration of a will. Probate estates are those estates which have reached the point where the will can be administered.In order for an estate to be administered, the will must first be held as legally valid by the surrogacy courts. Any challenge to the wil..

In the broadest legal terms, beneficiaries are natural persons or other legal entities who receive money or other benefits at the hand of a benefactor. For instance, the beneficiary of a life insurance policy is the person who receives payment when the insured dies. In trust law, the beneficiaries of a trust are the entities who have equitable ownership of the trust's assets, e..

Quick Guide to Arizona Probate CourtArizona Probate CourtThe state of Arizona does not set aside courts to deal with probate alone.  Probate cases are filed through the Circuit Court within the location the decedent passed away.  The state of Arizona is fairly relaxed on their probate laws and court procedures, but you should contact a real estate attorney as soon as ..

A Simple Guide to Avoiding Probate FloridaProbate is the traditional method by which the assets are transferred from a deceased person to their living descendants and heirs. Probate is notoriously disliked as a procedure because it takes a very long time, usually at least a year, so that creditors are able to take as much money as they can from the estate first. This, of course..

Quick Guide to California Probate CourtCalifornia Probate CourtThe state of California sets strict and detailed procedures around probate.  However, although there are strict guidelines for California probate court, the state government allows the procedure to pass through an easier option if there is a set amount of real property value.  This procedure will be explai..

A Short Guide to Your Colorado Living WillColorado living wills are incredibly important documents that dictate the types of medical treatment you will receive if you are unable to dictate that treatment yourself. If you are in a state of permanent coma or your are suffering from a fatal illness, these are time times that a Colorado living will might be used. You can ask not to..

Quick Guide to Colorado Probate CourtColorado Probate CourtsColorado probate court procedures are similar to other states with relaxed probate procedures.  As always, there are unique laws within CO probate courts, and a beneficiary, petitioner, and executor should be aware of all these laws.  A transfer of estate property may not have to go through Colorado probate c..

Quick Guide to Connecticut Probate CourtConnecticut Probate CourtThe Connecticut Probate Court is both immense and involved in numerous issues outside of wills and estates.  The CT Probate Court has very specific guidelines for numerous types of services, and these guidelines can be found under the judicial branch of the state government.  The state of Connecticut has..