What is an unsupervised administration and why is it better than other types?
In presentations regarding essential actions individuals should take regarding inheritance, emphasis is usually placed on drafting a will. This leaves unanswered what happens to assets that do not pass by will —so called non-probate assets.
Here are some important parts of your estate plan that should be reviewed.
There are good reasons why people want their estates to avoid probate, and a lot of ways to do it.
Non-probate assets are those assets which do not go into an estate when the owner dies.
Whether you drew up a will recently or years ago, keep in mind it’s generally not something you can set and forget.
A will allows you to distribute your worldly goods, select a guardian for minor children and name an executor to carry out your wishes.