Scott Heisey, Stewart Title's Vice President and Manager of the firm's Trust Department, recently sat down with Pat Kapowich to discuss the difference between trust and probate and between a will and a trust. Heisey explained that when a person dies intestate (without a will), their assets are distributed according to state law.
However, if a person dies testate (with a will), their assets are distributed according to the terms of their will.
Heisey also explained that a trust is an arrangement whereby a trustee holds and manages property for the benefit of another person, known as the beneficiary. A trust can be either revocable or irrevocable. A revocable trust can be amended or revoked by the settlor (the person who created the trust), while an irrevocable trust cannot be amended
Guest: Scott Heisey
Company Name: Stewart Title of California, Inc.
Email: Scott.Heisey@Stewart.com
Phone: Cell: 408-489-5288
Host: Realtor® Pat Kapowich
Realtor Pat Kapowich isn't just any agent; he's a Certified Trust and Probate Specialist, a Certified Real Estate Brokerage Manager, and has been a staunch advocate for consumer protection throughout his career.
Rooted in the vibrant heart of Silicon Valley, Pat operates out of his hometown, Sunnyvale, California. Reach out to his office at 408-245-7700 or drop him an email at Pat@SiliconValleyBroker.com. License: Broker# 00979413.
For up-to-the-minute housing market data tailored to your locality, access Pat's website for complimentary, real-time pricing and trend insights. [https://www.siliconvalleybroker.com/market-trends}