What Does it Mean to “Settle” an Estate?
Q: What Does it Mean to “Settle” an Estate?
Estate settlement is the process, whether through probate or your trust, of collecting assets, paying debts and taxes, and transferring ownership of your property according to the terms of your trust or other applicable law. If there are any assets outside of the trust at the time of your death, your personal representative will manage the probate of your estate and work closely with the trustee(s) of your trust to accomplish these tasks.
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