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Estate Planning (Cont.)
Why you should have a will?
- Direct Assets to Desired Beneficiaries
- Assigns a Personal Representative
- Guardianship of Minor Children
Even with a will your estate is still likely
have to go through probate. The
functions of probate are:
- Inventory and valuate all property
- Locate and identify heirs
- Appoint an administrator if there is nowill
You can avoid probate by supplementing your will with a living trust.
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