We often hear people talking about the importance of owning property, investing wisely, and retirement planning. However, people often ignore the importance of estate planning.
Planning estates and endowments beforehand helps ensure that they are passed on to loved ones and beneficiaries in a timely manner.
This blog post will discuss the importance of probate, estate, and trust services.
What constitutes Estate Planning?
Estate planning helps you pre-determine who will inherit your assets and how they should be distributed. Since estate planning is a complicated process, hiring a probate and estate realtor can make the process easier.
What is Meant by Probate
Probate refers to the legal process that involves moving an estate from a deceased owner to their rightful heirs. In probate, the assets of an individual pass through different hands before finally being distributed to loved ones or beneficiaries.
If the deceased hasn’t resolved the matters before their death, the process can be expensive and time-consuming for their heirs. It can be a lengthy process because it involves going through all of the deceased person’s accounts and assets before distribution can take place.
However, hiring a probate realtor along with a probate lawyer can make things easier.
What is a Trust?
A trust is a fiduciary relationship and legal arrangement in which property is held by one party, the trustee, for the benefit of another, known as the beneficiary. The trust property can be almost anything: money, real estate, or other collectibles. A trust can hold the assets of one or more people.
A trust makes it easier for the beneficiaries or heirs to inherit wealth and property without going through the complicated probate proceedings or getting into the hassle of documentation.
A trustee is a person who has either been nominated by the settlor (the creator of the trust) or elected by the beneficiaries of the trust. Trustees are legally responsible for monitoring and managing the assets and investments held in trust. The legal title of assets will remain in the hands of a person who is committed to its care.
Building trust can allow you to have greater control over the distribution of your assets. You can also control who gets your assets and how they are used. However, creating trust isn’t easy, and you will always need the services of a probate real estate agent or attorney.
Professional Probate Real Estate Services In Los Angeles
Looking for expert assistance from an experienced probate realtor when buying or selling private property in Los Angeles? Get in touch with John Matukas, a reliable and professional probate real estate agent. He can help guide you through the process of buying and selling probate properties. Get in touch with him today and discuss your needs with a certified probate real estate specialist!