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In this overview, attorney Paul Rabale discusses living trusts as a key component of estate planning. He explains that assets titled in an individual's name at death, such as homes, rental properties, stocks, and businesses, become probate assets. These assets are typically frozen and inaccessible to heirs until they navigate the court and attorney-driven probate process, which is often seen as time-consuming, costly, and burdensome. Rabale emphasizes that, aside from probate assets, there may also be other assets that do not require formal legal involvement after death.
