“People Who Have Experienced the Probate Process Love Living Trusts” People who come to our office for their estate planning needs often passionately insist on a Living Trust (inter vivos trust). The more they learn about Living Trusts, and many are quite knowledgeable already, the more they like them. Many like the flexibility of one trust holding multiple assets—real estate, personal residences, mutual funds, and intellectual property. The revocable nature of the Living Trust also has its appeal, especially to those who might make adjustments for their grandchildren or other changes in their lives as they arise. Many of our clients who adamantly request a Living Trust, however, have one other thing in common: they have experienced the probate process while coping with the passing of family member or friend and they do not want their beneficiaries to have to experience it. Probate is the public process initiated in the Probate or District Court, depending on the circumstances, by which one’s probate estate is administered and settled. New Mexico has an informal and formal process in which a Personal Representative (executor) pays debts, taxes, and distributes tangible and real property. Although each county has a Probate Court, if a probate or intestate proceeding is contested by beneficiaries or someone else with an interest in the estate, the proceedings must be removed to the District Court and become lengthier and costlier. Everyone who might have an interest in the estate must be given notice of the proceedings, which are public. By drafting a Living Trust, and ensuring that all assets titled in the name of the settlor (creator) of the trust are retitled in the name of the Living Trust, one’s estate can be administered privately by a successor trustee that you designate. Estate Planners call the retitling of assets “funding the trust.” This retitling allows the successor trustee, after the settlor passes away, to transfer assets, which otherwise would fall within the jurisdiction of the Probate Court, to the beneficiaries. Those who have been through the probate process, prefer this very aspect of the Living Trust because of its efficiency and privacy. The successor trustee does not have to wait for the court to act or to approve anything to begin administering the estate. While some estates, due to the circumstances surrounding them, will inevitably lead to disputes, a carefully planned Living Trust, properly funded, and reviewed and updated when needed best protects your loved ones and beneficiaries from the uncertainties of the probate process. September 23, 2016 James E. Dory, J.D., Ph.D Albuquerque, New Mexico (An earlier version of this post appeared in 2013) For questions or an appointment to talk to James Dory, call 505-550-0395

 

The Dory-Garduño Law Firm has implemented successful strategies in district, appellate, and legislative venues since 2009.

 

Office (505) 550-0395

Fax     (505) 550-0395

Hours 8:30-5:00 pm M-F

 

 

Dory-Garduño Law Firm, LLC

10320 Cottonwood Park NW, Suite E

Albuquerque, NM 87114

 

 

Copyright © Dory-Garduño Law Firm, LLC

The materials contained on this website are for informational purposes only and are not legal advice. The transmission or receipt of this information does not create an attorney-client relationship.  You should not act upon such information without seeking professional counsel.

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 “People Who Have Experienced the Probate Process Love Living Trusts” People who come to our office for their estate planning needs often passionately insist on a Living Trust (inter vivos trust). The more they learn about Living Trusts, and many are quite knowledgeable already, the more they like them. Many like the flexibility of one trust holding multiple assets—real estate, personal residences, mutual funds, and intellectual property. The revocable nature of the Living Trust also has its appeal, especially to those who might make adjustments for their grandchildren or other changes in their lives as they arise. Many of our clients who adamantly request a Living Trust, however, have one other thing in common: they have experienced the probate process while coping with the passing of family member or friend and they do not want their beneficiaries to have to experience it. Probate is the public process initiated in the Probate or District Court, depending on the circumstances, by which one’s probate estate is administered and settled. New Mexico has an informal and formal process in which a Personal Representative (executor) pays debts, taxes, and distributes tangible and real property. Although each county has a Probate Court, if a probate or intestate proceeding is contested by beneficiaries or someone else with an interest in the estate, the proceedings must be removed to the District Court and become lengthier and costlier. Everyone who might have an interest in the estate must be given notice of the proceedings, which are public. By drafting a Living Trust, and ensuring that all assets titled in the name of the settlor (creator) of the trust are retitled in the name of the Living Trust, one’s estate can be administered privately by a successor trustee that you designate. Estate Planners call the retitling of assets “funding the trust.” This retitling allows the successor trustee, after the settlor passes away, to transfer assets, which otherwise would fall within the jurisdiction of the Probate Court, to the beneficiaries. Those who have been through the probate process, prefer this very aspect of the Living Trust because of its efficiency and privacy. The successor trustee does not have to wait for the court to act or to approve anything to begin administering the estate. While some estates, due to the circumstances surrounding them, will inevitably lead to disputes, a carefully planned Living Trust, properly funded, and reviewed and updated when needed best protects your loved ones and beneficiaries from the uncertainties of the probate process. September 23, 2016 James E. Dory, J.D., Ph.D Albuquerque, New Mexico (An earlier version of this post appeared in 2013) For questions or an appointment to talk to James Dory, call 505-550-0395
 “People Who Have Experienced the Probate Process Love Living Trusts” People who come to our office for their estate planning needs often passionately insist on a Living Trust (inter vivos trust). The more they learn about Living Trusts, and many are quite knowledgeable already, the more they like them. Many like the flexibility of one trust holding multiple assets—real estate, personal residences, mutual funds, and intellectual property. The revocable nature of the Living Trust also has its appeal, especially to those who might make adjustments for their grandchildren or other changes in their lives as they arise. Many of our clients who adamantly request a Living Trust, however, have one other thing in common: they have experienced the probate process while coping with the passing of family member or friend and they do not want their beneficiaries to have to experience it. Probate is the public process initiated in the Probate or District Court, depending on the circumstances, by which one’s probate estate is administered and settled. New Mexico has an informal and formal process in which a Personal Representative (executor) pays debts, taxes, and distributes tangible and real property. Although each county has a Probate Court, if a probate or intestate proceeding is contested by beneficiaries or someone else with an interest in the estate, the proceedings must be removed to the District Court and become lengthier and costlier. Everyone who might have an interest in the estate must be given notice of the proceedings, which are public. By drafting a Living Trust, and ensuring that all assets titled in the name of the settlor (creator) of the trust are retitled in the name of the Living Trust, one’s estate can be administered privately by a successor trustee that you designate. Estate Planners call the retitling of assets “funding the trust.” This retitling allows the successor trustee, after the settlor passes away, to transfer assets, which otherwise would fall within the jurisdiction of the Probate Court, to the beneficiaries. Those who have been through the probate process, prefer this very aspect of the Living Trust because of its efficiency and privacy. The successor trustee does not have to wait for the court to act or to approve anything to begin administering the estate. While some estates, due to the circumstances surrounding them, will inevitably lead to disputes, a carefully planned Living Trust, properly funded, and reviewed and updated when needed best protects your loved ones and beneficiaries from the uncertainties of the probate process. September 23, 2016 James E. Dory, J.D., Ph.D Albuquerque, New Mexico (An earlier version of this post appeared in 2013) For questions or an appointment to talk to James Dory, call 505-550-0395

 

 

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 “People Who Have Experienced the Probate Process Love Living Trusts” People who come to our office for their estate planning needs often passionately insist on a Living Trust (inter vivos trust). The more they learn about Living Trusts, and many are quite knowledgeable already, the more they like them. Many like the flexibility of one trust holding multiple assets—real estate, personal residences, mutual funds, and intellectual property. The revocable nature of the Living Trust also has its appeal, especially to those who might make adjustments for their grandchildren or other changes in their lives as they arise. Many of our clients who adamantly request a Living Trust, however, have one other thing in common: they have experienced the probate process while coping with the passing of family member or friend and they do not want their beneficiaries to have to experience it. Probate is the public process initiated in the Probate or District Court, depending on the circumstances, by which one’s probate estate is administered and settled. New Mexico has an informal and formal process in which a Personal Representative (executor) pays debts, taxes, and distributes tangible and real property. Although each county has a Probate Court, if a probate or intestate proceeding is contested by beneficiaries or someone else with an interest in the estate, the proceedings must be removed to the District Court and become lengthier and costlier. Everyone who might have an interest in the estate must be given notice of the proceedings, which are public. By drafting a Living Trust, and ensuring that all assets titled in the name of the settlor (creator) of the trust are retitled in the name of the Living Trust, one’s estate can be administered privately by a successor trustee that you designate. Estate Planners call the retitling of assets “funding the trust.” This retitling allows the successor trustee, after the settlor passes away, to transfer assets, which otherwise would fall within the jurisdiction of the Probate Court, to the beneficiaries. Those who have been through the probate process, prefer this very aspect of the Living Trust because of its efficiency and privacy. The successor trustee does not have to wait for the court to act or to approve anything to begin administering the estate. While some estates, due to the circumstances surrounding them, will inevitably lead to disputes, a carefully planned Living Trust, properly funded, and reviewed and updated when needed best protects your loved ones and beneficiaries from the uncertainties of the probate process. September 23, 2016 James E. Dory, J.D., Ph.D Albuquerque, New Mexico (An earlier version of this post appeared in 2013) For questions or an appointment to talk to James Dory, call 505-550-0395
 “People Who Have Experienced the Probate Process Love Living Trusts” People who come to our office for their estate planning needs often passionately insist on a Living Trust (inter vivos trust). The more they learn about Living Trusts, and many are quite knowledgeable already, the more they like them. Many like the flexibility of one trust holding multiple assets—real estate, personal residences, mutual funds, and intellectual property. The revocable nature of the Living Trust also has its appeal, especially to those who might make adjustments for their grandchildren or other changes in their lives as they arise. Many of our clients who adamantly request a Living Trust, however, have one other thing in common: they have experienced the probate process while coping with the passing of family member or friend and they do not want their beneficiaries to have to experience it. Probate is the public process initiated in the Probate or District Court, depending on the circumstances, by which one’s probate estate is administered and settled. New Mexico has an informal and formal process in which a Personal Representative (executor) pays debts, taxes, and distributes tangible and real property. Although each county has a Probate Court, if a probate or intestate proceeding is contested by beneficiaries or someone else with an interest in the estate, the proceedings must be removed to the District Court and become lengthier and costlier. Everyone who might have an interest in the estate must be given notice of the proceedings, which are public. By drafting a Living Trust, and ensuring that all assets titled in the name of the settlor (creator) of the trust are retitled in the name of the Living Trust, one’s estate can be administered privately by a successor trustee that you designate. Estate Planners call the retitling of assets “funding the trust.” This retitling allows the successor trustee, after the settlor passes away, to transfer assets, which otherwise would fall within the jurisdiction of the Probate Court, to the beneficiaries. Those who have been through the probate process, prefer this very aspect of the Living Trust because of its efficiency and privacy. The successor trustee does not have to wait for the court to act or to approve anything to begin administering the estate. While some estates, due to the circumstances surrounding them, will inevitably lead to disputes, a carefully planned Living Trust, properly funded, and reviewed and updated when needed best protects your loved ones and beneficiaries from the uncertainties of the probate process. September 23, 2016 James E. Dory, J.D., Ph.D Albuquerque, New Mexico (An earlier version of this post appeared in 2013) For questions or an appointment to talk to James Dory, call 505-550-0395

Dory-Garduño Law

 505-550-0395

 “People Who Have Experienced the Probate Process Love Living Trusts” People who come to our office for their estate planning needs often passionately insist on a Living Trust (inter vivos trust). The more they learn about Living Trusts, and many are quite knowledgeable already, the more they like them. Many like the flexibility of one trust holding multiple assets—real estate, personal residences, mutual funds, and intellectual property. The revocable nature of the Living Trust also has its appeal, especially to those who might make adjustments for their grandchildren or other changes in their lives as they arise. Many of our clients who adamantly request a Living Trust, however, have one other thing in common: they have experienced the probate process while coping with the passing of family member or friend and they do not want their beneficiaries to have to experience it. Probate is the public process initiated in the Probate or District Court, depending on the circumstances, by which one’s probate estate is administered and settled. New Mexico has an informal and formal process in which a Personal Representative (executor) pays debts, taxes, and distributes tangible and real property. Although each county has a Probate Court, if a probate or intestate proceeding is contested by beneficiaries or someone else with an interest in the estate, the proceedings must be removed to the District Court and become lengthier and costlier. Everyone who might have an interest in the estate must be given notice of the proceedings, which are public. By drafting a Living Trust, and ensuring that all assets titled in the name of the settlor (creator) of the trust are retitled in the name of the Living Trust, one’s estate can be administered privately by a successor trustee that you designate. Estate Planners call the retitling of assets “funding the trust.” This retitling allows the successor trustee, after the settlor passes away, to transfer assets, which otherwise would fall within the jurisdiction of the Probate Court, to the beneficiaries. Those who have been through the probate process, prefer this very aspect of the Living Trust because of its efficiency and privacy. The successor trustee does not have to wait for the court to act or to approve anything to begin administering the estate. While some estates, due to the circumstances surrounding them, will inevitably lead to disputes, a carefully planned Living Trust, properly funded, and reviewed and updated when needed best protects your loved ones and beneficiaries from the uncertainties of the probate process. September 23, 2016 James E. Dory, J.D., Ph.D Albuquerque, New Mexico (An earlier version of this post appeared in 2013) For questions or an appointment to talk to James Dory, call 505-550-0395
 Dory-Garduño Law Firm, LLC 10320 Cottonwood Park NW Suite E Albuquerque, NM 87114  Office (505) 550-0395 Fax (505) 550-0395 Hours 8:30-5:00 pm M-F

 

Copyright © Dory-Garduño Law Firm, LLC

The materials contained on this website are for informational purposes only and are not legal advice. The transmission or receipt of this information does not create an attorney-client relationship.  You should not act upon such information without seeking professional counsel.

Lawyer Advertisement.

Dory-Garduño Law

 505-550-0395

 “People Who Have Experienced the Probate Process Love Living Trusts” People who come to our office for their estate planning needs often passionately insist on a Living Trust (inter vivos trust). The more they learn about Living Trusts, and many are quite knowledgeable already, the more they like them. Many like the flexibility of one trust holding multiple assets—real estate, personal residences, mutual funds, and intellectual property. The revocable nature of the Living Trust also has its appeal, especially to those who might make adjustments for their grandchildren or other changes in their lives as they arise. Many of our clients who adamantly request a Living Trust, however, have one other thing in common: they have experienced the probate process while coping with the passing of family member or friend and they do not want their beneficiaries to have to experience it. Probate is the public process initiated in the Probate or District Court, depending on the circumstances, by which one’s probate estate is administered and settled. New Mexico has an informal and formal process in which a Personal Representative (executor) pays debts, taxes, and distributes tangible and real property. Although each county has a Probate Court, if a probate or intestate proceeding is contested by beneficiaries or someone else with an interest in the estate, the proceedings must be removed to the District Court and become lengthier and costlier. Everyone who might have an interest in the estate must be given notice of the proceedings, which are public. By drafting a Living Trust, and ensuring that all assets titled in the name of the settlor (creator) of the trust are retitled in the name of the Living Trust, one’s estate can be administered privately by a successor trustee that you designate. Estate Planners call the retitling of assets “funding the trust.” This retitling allows the successor trustee, after the settlor passes away, to transfer assets, which otherwise would fall within the jurisdiction of the Probate Court, to the beneficiaries. Those who have been through the probate process, prefer this very aspect of the Living Trust because of its efficiency and privacy. The successor trustee does not have to wait for the court to act or to approve anything to begin administering the estate. While some estates, due to the circumstances surrounding them, will inevitably lead to disputes, a carefully planned Living Trust, properly funded, and reviewed and updated when needed best protects your loved ones and beneficiaries from the uncertainties of the probate process. September 23, 2016 James E. Dory, J.D., Ph.D Albuquerque, New Mexico (An earlier version of this post appeared in 2013) For questions or an appointment to talk to James Dory, call 505-550-0395
 Dory-Garduño Law Firm, LLC 10320 Cottonwood Park NW Suite E Albuquerque, NM 87114  Office (505) 550-0395 Fax (505) 550-0395 Hours 8:30-5:00 pm M-F

 

Copyright © Dory-Garduño Law Firm, LLC

The materials contained on this website are for informational purposes only and are not legal advice. The transmission or receipt of this information does not create an attorney-client relationship.  You should not act upon such information without seeking professional counsel.

Lawyer Advertisement.