What's the Difference Between Probate & Estate Administration? // The Meier Law Firm

Описание: So what's the difference between Probate and Trust administration?
The main difference between Probate and Trust administration or estate administration is that probate is typically for people who passed away and they did not have a trust in place.

Get answers from Top Rated Estate Planning Attorney, Laura Meier.
Learn out more about Estate Plans → https://meierfirm.com/estate-planning...


⬇️Who is Meier Law ⬇️
   • Welcome  
================================
👉 Book a Strategy Session https://meierfirm.com/
✅ Subscribe to always get my latest videos https://bit.ly/3BYdLqD
📚 Estate Planning Blog https://meierfirm.com/blog/
🕵️ Learn More About Our Areas of Practice https://meierfirm.com/about-us/

===Most Popular Video===
• Why California Parents with Minor Children Need a Will, Trust, and Guardianship Plan
   • Why California Parents with Minor Children...  

🔹 LinkedIn:   / meier-law-firm  
🔹Facebook:   / meierlawfirm  
🔹Twitter:   / lkmeier  

https://meierfirm.com/

#EstatePlan #Wills #Trusts #AssetProtection #CaliforniaFamilyTrustLawyer #EstatePlanningAttorney #LauraMeier #MeetTheMeiers #MeierLawFirm #CaliforniaLawFirm
________________________

Transcript:

So what's the difference between Probate and Trust administration? The main difference between Probate and Trust administration or estate administration is that probate is typically for people who passed away and they did not have a trust in place. And they did not automatically pass their money to their loved one, either through joint ownership or through a beneficiary designation. Probate is a very long and expensive court process. It's open and public, it's two to three years long. Plus, you can't choose who your beneficiaries are going to be. It's whoever the state of California deems that they are. Probate is something that also is emotionally exhausting. estate or trust administration, on the other hand, is a more private and more expedited process. It's close to the public, and it's what families go through if their loved one did have a trust in place before they passed away. And unlike probate where you can't choose your heirs with a trust, you can decide who your money goes to and on what terms and who you want to be in charge of everything. It also costs a fraction of the cost of probate.