What is Probate?

Cesar Montalvo Real Estate Law, Real Estate Law 2

Probate is the legal process of transferring of property upon a person’s death. Although probate customs and laws have changed over time, the purpose has remained much the same: people formalize their intentions as to the transfer of their property at the time of their death (typically in a will), their property is collected, certain debts are paid from the …

What is a Trust?

Cesar Montalvo Real Estate Law, Real Estate Law 2

A trust is used to determine how a person’s money should be managed and distributed while that person is alive, or after their death. A trust helps avoid taxes and probate. It can protect assets from creditors, and it can dictate the terms of an inheritance for beneficiaries. The disadvantages of trusts are that they require time and money to …