What is Probate and How Does it Impact Real Estate?
Whether or not a deceased has a Will, as a general matter any property solely titled in the name of the decedent will need to go through a legal process known as probate.
According to a 2019 survey conducted by Caring.com, 57% of adults in the United States do not currently have proper estate planning documents like a will or living trust but 76% of those who responded stated that having a will is important. This spans across all income levels as a number of celebrities have died without a will including Aretha Franklin, Prince, Bob Marley and Sonny Bono.
To see all the details of this survey by Caring.com, please click here.