Marc Zimmerman is an expert in all things probate. He is the co-founder of The Zimmerman Firm, a welcoming and informative resource for people seeking guidance on this important aspect of the law. He is committed to simplifying the often mystifying world of probate and estate planning and believes in taking a proactive approach to asset management; this has ensured smoother transitions for numerous families during times of loss. Marc joins Stacy Francis on this episode of Financial Ever After Widowhood to demystify the complexities of probate and highlights its significance, especially when assets are involved without a designated beneficiary. Probate, a legal process where assets are frozen until the executor appointed in a will seeks the Surrogate's Court's approval, has seen considerable delays due to the pandemic. These delays can span from six months to over a year and can become more prolonged if any litigation is involved.  A revocable trust empowers individuals with control over their assets and ensures hassle-free access for the successor trustee upon their demise. Transferring assets into this trust is straightforward; while real estate uses deed assignments, tangible personal property, such as artwork, calls for individual assignment documents. Assets in a revocable trust might not invite immediate taxes, yet they remain within the taxable estate. Conversely, assets within an irrevocable trust are viewed as finalized gifts and face different taxation criteria.  Acting on your estate planning requirements can be a gesture of care and responsibility towards your loved ones, ensuring they're spared unnecessary legal complications during an already emotionally taxing period. ResourcesMarc Zimmerman on the web LinkedIn | Email | (212) 519-5114The Zimmerman Firm600 Third Avenue, 35th FloorNew York, New York 10016Stacy Francis on LinkedIn | TwitterEmail: stacy@francisfinancial.comFrancisFinancial.comReach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!