A formal probate process involves specific, usually straightforward steps. Issues that may arise during the process can lengthen the time it lasts until it is closed by the court.
If you have a family member with special needs, you might face emotional and physical issues. However, you also may be concerned about maximizing the financial support that your loved one requires.
Trusts can be used to hold assets for a beneficiary, and you may hear about them when carrying out estate planning or evaluating strategies to pass investments to heirs.