Introduction
Estate planning is a field of study that involves the planning of a person’s current and incurrent life. A legal process is substantial for the future. Estate planning goes a long way into defining and informing people of their rights on property acquisition. It is a broad subject that gets narrowed down by legal process. Estate planning involves two persons, normally the wife and the husband (Nissley, 2011). The two come together and have to seek legal procedures and means for their future. This normally happens after they acquire the marriage certificate and have or share a home. It normally incudes a written and valid will. This is source of reference for the disbursement of property and holdings after death. It ensures the right people earn their credits without conflict. It also requires the assignment of an established attorney. The final bit is a living will or a written health-care proxy (Not, 2011). This usually acts as the power of attorney. One has to be mindful in the use of federal and state laws.
I learnt on probate from the video. Probate is the process, which transfers or allows the transfer of legal property from a person who is dead, to their beneficiary (It's Your Estate: Session 2, Estate Planning Basics, Part 1 of 4). The beneficiary may include spouse’s children or a trust worthy friend/partner whom the deceased intended to give. Probate is necessary as it sees to it that time or money spent during court sessions is limited (Courtney, 2011). It also oversees on issues of trustworthy and who has the sole responsibilities of the property. Indeed, I have learnt a lot from the videos, in matters of estate planning and the law.
References
Courtney, P. (2011). Wills, probate and estates. Oxford: Oxford University Press.
It's Your Estate: Session 2, Estate Planning Basics, Part 1 of 4. Retrieved from
Nissley, J. P. (2011). How to probate an estate in California. Berkeley, Calif: Nolo.
Not, A. (2011). How to Settle a Simple Estate Without a Lawyer: The Complete Guide to Wills,
Probate, and Inheritance Law Explained Simply (with Companion CD-ROM). Atlantic Pub. Group.
