What are the Key Differences Between Heirs and Beneficiaries?
After the death of an individual, all the assets under their ownership will be transferred to their beneficiaries. The person’s estate is divided into different categories called beneficiaries (or legatees). There are two types of beneficiaries: direct and indirect. Direct beneficiaries include spouses and children who have been named in a will or trust document; […]
Enacting a Trust to Avoid Probate – Is it a Good Idea?
You’re not alone if you’re uncertain or unaccustomed to Trusts as a component of estate planning. Some people require Trust, while others do not. The probate procedure is another. What effect does Trust have on the probate procedure? To avoid the probate procedure, should you have Trust? In this article, we help you determine if […]