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What Happens With Your Will? Understand the Probate Process

What Happens With Your Will? Understand the Probate Process

Most people know that having a will is important. It allows you to express how you would like your assets handled after your death, and can include important information regarding the custody of any surviving children. Nevertheless, many people do not understand how a will is executed.

After you pass on, your will is managed through a local probate court. Consequently, many are not prepared for what’s ahead. Here is an introduction to the probate process and how it works.

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1. Your Executor Takes Charge

As part of your will, you should have identified an executor. Your executor files all necessary paperwork with the probate court. Moreover, according to Steve Bliss, a probate attorney, “the executor will provide the court with information regarding your current debts and assets, and your instructions regarding who should inherit certain property.”

Accordingly, once the filings are complete, official notification of your death will be released to all interested parties. The executor locates and secures all of the included properties, and manages all assets throughout this process. Conversely, they will also determine if any assets should be sold to cover any remaining debts.

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2. Short Term Support Requests

Depending on the state, your immediate family members may have the right to request funds from your assets to support their basic needs. For example, funds may be made available to provide basic support for your children, such as food and housing. The court makes decisions regarding these requests alone, and requests can be denied.

3. A Mandatory Waiting Period

Ordinarily, your assets cannot be provided to your heirs until the court releases the executor to do so. This waiting period ensures all of your final bills, such as remaining debts and funeral expenses, have been paid before any property is distributed. Even once all debts are settled, additional time is required to provide any creditors, whom the executor may not have been aware, have the opportunity to make a claim against the estate.

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4. Completing the Process

Only after all of these requirements are met can your assets be distributed to your heirs. Consequently, the executor will then take any necessary steps to legally transfer the property to the designated heir. Any payments or donations made to charitable organizations are also managed by the executor. Once the entire process is complete, the court releases the executor from their duties.

The total amount of time required may vary even when everything works smoothly. It is not uncommon for the probate process to take close to one year under the best of circumstances. If the will is contested, or if the estate is particularly complex, it can take much longer to finish.

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5. Contested Wills

A will may be contested if it is impossible that the will is not completely valid. This can include issues regarding how the document was completed, whether the person who created the will did so while under undue influence, or if the person may not have been of sound mind when it was created. If the will is contested, then the court will need to render a decision regarding the validity of the will, and if any other party has a reasonable claim to the assets. Depending on the state, a jury trial may even occur.

A contested will can take a very long time to complete the probate process. If the will is rendered invalid, then arguments may occur regarding who should receive which assets.

Can Probate Be Avoided?

If you want to avoid your will going through the probate process, it is wise to consider placing your assets in a living trust. Once part of the trust, the assets are legally no longer your property. Instead, the assets are owned by the trust, and you function as the trustee. This allows you to manage the assets as you see fit. You can designate a person to assume the position of trustee upon your death, allowing them to take immediate control of all of the assets within the trust. Unlike assets in a will, the assets in a trust are not subject to the probate process.

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Last Updated on November 5, 2018

8 Powerful Reasons to Love Your Enemies

8 Powerful Reasons to Love Your Enemies

We’ve all got our enemies; people who take pleasure in causing us pain and misery. Sometimes, the development of an enemy is due to certain differences in your characters and events have led to that. Other times, some people end up hating you for apparently no reason at all.

Regardless of how you got this enemy, as opposed to the paradigm of fighting fire with fire, consider the following reasons and see why you should actually appreciate your enemies. This article will show you not only how to not be bothered by your enemies, but how to actually foster love for them.

Read on to learn the secret.

1. It’s a practical lesson in anger management

To be honest, your enemies are the best people to help you understand your sense of anger management. When it might be true that your enemies have a way of bringing out the worst in you as regards anger, it is also true that they can help you in your quest to have that anger managed. You can’t get truly angry at someone you love and it is only in that time when you get truly annoyed that you learn how to manage it.

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Anger management is more effective when it is in practice and not in theory

Your enemies are like the therapists who you need, but actually don’t want. Inasmuch as you might want to hate them, they provide you an opportunity to control the anger impulse that you have.

2. It’s an opportunity for healthy competition

You might not know it, but your enemies make for great rivals as they help harness the competitor in you (sometimes, you might not even know or bee conversant with this competitive side until you come across an adversary). You get the right motivation to compete and this can go a long way to spur you to victory.

However, while doing so, it is also essential that you remember not to become a worse version of yourself while competing. Working against an adversary is tricky, and you need to ensure that you don’t cause harm to yourself or your morals in the process. Healthy competition is all you need to get out of this.

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3. Their negative comments can help you make a breakthrough

It is true that your enemies never really have much good to say about you. However, in as much as they might be talking out of a place of hate, there might be some truth to what they’re saying.

To wit, whenever you hear something mean or nasty from an enemy, you might want to take a step back and evaluate yourself. There is a chance that what this enemy is saying is true and coming to face that fact is a major step in helping you to become a better person overall. This is another testament to the fact that enemies can be therapists in their own way.

4. Enemies can also be powerful allies

Loving your enemies can also mean making an effort to interact and make peace with them. In the end, if you are able to establish some common ground and patch things up, you’ll have succeeded in making another friend. And who doesn’t need friends?

This can also help you in working with people in the long run. You get to hone your inter-personal skills, and that can be a big plus to your ledger.

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5. It gives you the ability to realize positivity

In a multitude of negativity, a speck of positivity always seems to find its way through.

Sometimes, a knowledge of the fact that you have enemies will also help you to focus on the many positives and good things that are in your life. A lot of times, we neglect what really matters in life. This can be due to being overly concerned with the enemies we have.

However, it is also possible for this acknowledgement to spur you to take a step back and appreciate the goo things (and people who surround you).

6. There might just be a misunderstanding

Sometimes, the reason why you have an enemy might be something very innocuous. You might not have known the cause of this fractured relationship and your enemy will help complete the picture.

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Simply approaching them will help you to understand the reason for the fracture. This, in turn, can help you to work towards healing your relationship moving forward. Misunderstandings happen, and you need to be able to work around them.

7. You learn to appreciate love as well

A constant reminder of the fact that there are enemies will also help you not to take those who love you for granted. Love and hate are two opposing emotions and it is possible for one to momentarily overshadow the other.

However, while you’ll always have enemies, there will also always be people who love you. These people need to be appreciated for what they do for you. Never let the hate projected to you from your enemies take the place of that.

8. Do you really need the hate?

The truth is that enemies bring only toxic emotions and generate bad reactions from you. If you’re truly to live a prosperous life, you can’t really be carrying all this baggage around.

Hate is bad and you should try all you can to get rid of it. It is a well-known fact that nobody can get really far in life while carrying a lot of emotional baggage. Well, hate is the biggest form of emotional baggage there is.

Featured photo credit: rawpixel via unsplash.com

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