When a beneficiary dies before receiving their inheritance, estate distribution can become more complicated. Understanding succession rules, will provisions, and probate laws ensures that assets are transferred as intended.
Managing out-of-state property in probate often requires ancillary probate, which can add complexity and cost. However, using the right strategies to avoid ancillary probate can prevent these issues.
Though ‘estate planning’ may bring to mind visions of rich families squabbling over the ancestral silver, it isn't just for the wealthy or older people, financial planners say.
