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What is Probate?

By Matthew Frankel, CFP – Updated Nov 15, 2024 at 9:24AM

Key Points

  • Probate manages distribution of a deceased's estate; it can be streamlined by a will.
  • Certain assets like life insurance and jointly-owned property bypass probate automatically.
  • Creating a living trust with a professional's help can circumvent the often costly probate process.
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