- Tax Planning
- Investments 1: Before you Invest
- Investments 2: Your Investment Plan
- Investments 3: Securities Market Basics
- Investments 4: Bond Basics
- Investments 5: Stock Basics
- Investments 6: Mutual Fund Basics
- Investments 7: Building Your Portfolio
- Investments 8: Picking Financial Assets
- Investments 9: Portfolio Rebalancing and Reporting
- Retirement 1: Basics
- Retirement 2: Social Security
- Retirement 3: Employer Qualified Plans
- Retirement 4: Individual and Small Business Plans
- Estate Planning Basics
- Introduction
- Understand the Principles of Estate-Planning
- Understand the Importance of Estate Planning and the Goals of Estate Planning
- Understand the Estate-Planning Process
- Know How Trusts Can Be Used to Your Advantage in Estate Planning
- Understand the Importance of Wills and Probate Planning
- Summary
- Assignments
Probate
Probate is the process of distributing an estate’s assets. The probate process includes appointing an executor if one is not named, validating the will, allowing for challenges to the will, overseeing the distribution of assets, filing a report with the court, and closing the estate.
There are numerous costs and fees involved in the probate process, including legal fees, executor fees, and court fees; these fees can be from 1 percent to 8 percent of the estate’s value. Additionally, the probate process can be quite slow, especially if there are challenges to the will or tax problems.
