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Chapter 12. Managing Your Investments > Estate Planning and Retirement

Estate Planning and Retirement

This book cannot do justice to all facets of retirement and financial planning. I've said this as it relates to tax issues and insurance issues, and I reiterate it here as we look briefly at probate and estate issues.

Probate

All assets of a decedent go through the probate court unless the assets' ownership is structured to bypass the probate process. Joint ownership and living trusts are two popular means of avoiding the probate process. The probate court is the arm of our judicial system charged with managing the liquidation of estates of people who have a will or die intestate (without a will). The probate process, as I mentioned earlier, is public and lengthy. It's also expensive because attorneys representing those with claims will battle it out through the judicial system.


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