![]() ![]() In 1989, the American Association of Retired Persons (AARP) decided to look carefully at probate and its impact on seniors. (See the Academy Free Reports, Where There’s a Will, There’s Probate, and The Nightmare of Living Probate.) While probate attorneys might be happy with these definitions, Trust attorneys would draw your attention to all the problems that come with probate: red tape, expense, publicity, delay, loss of control, and in the case of living probate, potential for personal humiliation. But then again, so will dying without any estate plan at all. ![]() Having a Will virtually guarantees that your estate will go through probate. Just what is probate? First, it’s important to note that it comes in two “flavors.” Living probate is a legal process that determines your fate when you cannot, generally because you’ve been disabled by injury, illness, or mental incapacity.ĭeath probate is the process that disposes of your estate after you die. This report from the American Academy of Estate Planning Attorneys explores the reasons for the debate and offers guidelines to help seniors steer clear of the fray. You’ll get as contentious an assembly as you could possibly hope for.įor seniors, the debate has special meaning because the vast majority of probate cases revolve around the affairs of those Americans age 60 and over. Want to see two groups who make the Republicans and Democrats look like one big, happy family? Then put into one room those attorneys who believe in probate and those who prefer their clients manage their affairs with a Revocable Living Trust. ![]()
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