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It is typical for a Will not to get filed when the deceased’s estate is insolvent, meaning there are more bills than money. What happens to assets when someone dies? When a person dies, their property passes to their personal representative. The personal representative then distributes the deceased’s person’s assets (money, possessions and property) in accordance with the law, the will – if there is one – or the laws of intestacy if there is no will. I am lookIng for awesome trust lawyer nearby 92880. I need awesome Living Trust Attorney by rego park, corona ca. I need brilliant trust lawyers near north coron, corona ca.a. Why would a person want to set up a trust? To protect trust assets from the beneficiaries’ creditors; To protect premarital assets from division between divorcing spouses; To set aside funds to support the settlor when incapacitated; To reduce income taxes or shelter assets from estate and transfer taxes. These documents will tell you who is inheriting the property.
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