Estate Law: Trusts and estates is the name given to the branch of civil law that covers decedents’ estates and probate; wills and intestacy; estates and future interests in property; trusts, gifts, and powers; annuities; and charitable bequests.
Probate covers admission of a will to probate and the subsequent proceedings, including the appointment and duties of a personal representative, procedures in probate, and ancillary proceedings. Intestacy, on the other hand, refers to the general rules governing the disposition of the property of someone who dies intestate, i.e., without a will, or who leaves a will that fails to dispose of all assets.
Estate planning can save a lot of money, as well as eliminate potential problems and hard feelings between those closest to you by preplanning how you want your assets managed if you are incapacitated and how your property will be divided at your death. Don’t wait until it’s too late. Call Malone, Tauber & Sohn, P.C. for a consultation.