The English term probate is derived from the Latin verb probare, meaning to try, test, prove or examine. This legal process in which a will is proved to be a valid legal instrument in the disposition of the formerly deceased and their assets.
A living trust is often marked as an instrument used to avoid probate in the event of one's passing. The process can be quite tactful, but there are other benefits that are to be considered in creating a living trust versus a will.
Both trusts and wills seem very alike, however, both operate under different rules and laws that can have no correlation whatsoever. The right legal advice from an experienced and qualified attorney in the trust, probate or will practice matters in both of these situations, as well as choosing to work with the right Real Estate Consultant to ensure any Real Estate processes will be handled with the best care.
Learn more about the trust and probate process when it comes to your Real Estate assets, courtesy of the Knox Team.