A beneficiary does not need to worry about losing beneficial interest or control over their real estate during the span of their life, a contingent beneficiary does not inherit any interest in the property until the death of the original beneficiary.
POWER OF ATTORNEY
A Power of Attorney for Property is a way for you to decide in advance who will handle, your financial affairs if you are not able to act on your own in the future. Executing this document will save your family from the burden of having to make financial decisions without knowing your wishes.
Probate court is a specialized type of court that deals with the property and debts of a person who has died. The basic role of the probate court judge is to assure that the deceased person’s creditors are paid, and that any remaining assets are distributed to the proper beneficiaries.