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Wills and trusts the two most common tools used in estate planning to ensure your assets are distributed according to your wishes. While both serve the fundamental purpose of passing on wealth and protecting your loved ones, these documents function in different ways and offer distinct advantages. Understanding the key differences—such as probate avoidance, privacy, […]
Three Reasons Why You Want to Avoid Probate For Your Estate
The short definition of probate is: “Probate is the court action that changes the title of assets from a deceased person to the beneficiaries or heirs.” Whether or not someone leaves a will, probate is often necessary. It is a common misconception that creating a will, or holding assets jointly, will avoid probate. Simply leaving […]
Rhode Island Probate vs. Trust Administration Compared Side By Side
Do you need a will, or do you need a trust? Confused about the difference? The major difference is probate – which is the court process that applies to a person’s estate whether they leave a will or not. When it comes to estate planning, understanding the difference between probate and trust administration can significantly […]