Wills and Probate
Strickland & Associates will assist you in drafting your will and other necessary documents. We offer competitive rates and flat fee options.
Review some of those options by following the below links:
Wills and Probate are related but are separate ‘issues’ all together. A will is a written document which a person prepares with the intent of disposing their probate assets at death. Not all a person’s property are considered “probate assets.” This is an important distinction to understand. A will only disposes property which is considered to be a part of the deceased person’s probate assets.
Non-probate assets or “non-testamentary transfers” are assets which do not “pass” by will. In other words, a will will not affect the transfer of these types of assets. Some common non-probate assets include assets such as Life Insurance Proceeds, assets in a trust, and payable on death accounts. The disposition of these assets are generally determined by the governing agreement or beneficiary designation. For example, property owned by a trust will be managed by the trust agreement. The beneficiary designation on a payable on death account will determine the disposition of the account. A will will not affect these designations and/or agreements.
Probate assets are assets which are assets other than non-probate assets.
Probate, as the term is broadly used, refers to the process of settling a person’s estate once they have passed away. A greater discussion of probate can be found on the “What is Probate?” page.
- What’s the difference between estate planning and probate?
- What is Probate?
- A Loved One passed away, now what?
- Guardianship
