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3. Right to Request an Accounting: Beneficiaries have the right to request a formal accounting from the executor. This accounting should provide a detailed overview of the estate's assets, income, expenses, and distributions.

Personal representatives (i.e., executors and administrators of the estate) are required to provide beneficiaries and other interested parties (i.e., persons or entities with a financial stake in the estate) with financial information about the estate they are overseeing.

As a beneficiary, you are entitled to review the trust's records including bank statements, the checking account ledger, receipts, invoices, etc. Before the trust administration is complete, it is recommended you request and review the trust's records which support the accounting.

To be nominated to be the Executor of a Will imposes upon the person so appointed a fiduciary duty to adhere to the terms of the Will in conformity with California law. That duty can impose personality liability upon the Executor should he or she fail to perform as required.

Jointly owned assets with right of survivorship, assets in a trust, or assets with designated beneficiaries are generally not subject to probate. The probate process is court-driven and can be a lengthy and expensive process, often lasting several months or even years.

Also exempt from probate is property titled in joint ownership, which automatically passes to the surviving owner. In addition, life insurance payments and funds in an IRA, pension, 401(k), or other retirement plan bypass probate ? if the decedent has named beneficiaries other than the estate.

Probate is the legal process of transferring the property from a deceased person's estate to their heirs or beneficiaries. Additionally, probate is required in Wisconsin for any assets without a trust that exceed $50,000. Probate is overseen by the local probate court.

Assets Subject to Probate: Generally all of a decedent's assets are subject to probate administration, except those assets which transfer outside of the decedent's will.

Assets that name a beneficiary: Some assets can transfer directly to a chosen beneficiary, meaning they don't have to go through probate. This includes life insurance policies, retirement accounts, certain types of stocks and bonds, and payable on death (POD) or transfer on death (TOD) accounts.