What is probate, and how can I avoid it?

Probate is a legal process that happens when a person dies and their assets need to be managed and transferred to their heirs. In Texas, probate is supervised by the court and involves collecting the deceased’s assets, paying their debts and taxes, and distributing whatever is left of the estate to the heirs. The probate process can be lengthy and expensive, so many people choose to create an estate plan to try and avoid probate. An estate plan typically includes documents like a will, trust, and powers of attorney. A will specifically states who inherits your property while you’re alive, and who manages and distributes your property after you’re gone. A trust is a separate legal entity which holds the title of your property, and property in the trust passes to the beneficiaries without having to go through probate. Powers of attorney designate someone to manage your finances and health care decisions if you’re unable to do so. Although it’s not always possible to completely avoid probate, having an estate plan in place makes it much easier for your family to manage your assets efficiently and with fewer delays. It’s important to consult an estate planning attorney who understands the laws in Texas to make sure your estate plan is set up correctly.

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