Some people mistakenly think not having a will allows their assets to bypass the time and expense of probate. That’s not true–if you die without a will, your property still must go through probate, says Fed Week’s recent article entitled “The Importance of Having a Will.” If probate avoidance is an issue, you can create a revocable trust … Continue reading Exactly Why Do I Need a Will?
Category: Probate Attorney
The Basics of Estate Planning
No matter how BIG or small your net worth is, estate planning is a process that ensures your assets are handed down the way you want after you die. Work with an estate planning attorney to ensure your documents are in line with your intentions. Forbes’ article entitled “Estate Planning Basics” explains that everybody has an estate. … Continue reading The Basics of Estate Planning
Can Executor Take the Money and Run?
What if your executor or trustee decides to run off to the Bahamas with all your assets, leaving heirs with nothing? Kentucky Farmer’s article entitled “What if trustee runs off with assets?” says that safeguards should be in place to protect the heirs of an estate. The most common way to protect against this possibility is a fiduciary … Continue reading Can Executor Take the Money and Run?
Why Everyone Needs an Estate Plan
Estate planning means making plans to manage and distribute assets and caring for loved ones in the event of a person’s death or incapacity. It also involves the creation of legally binding documents to outline a person’s wishes for health care and financial matters. Estate planning ensures your wishes are carried out and is also … Continue reading Why Everyone Needs an Estate Plan
What’s the Best Way to Organize Your Estate Plan?
Congratulations, if you already have an estate plan. However, do you remember where you put it? Does anyone but you know where it is? According to an article from The Press-Enterprise, “2023 check list: How to organize your estate plan,” most people take their estate plan and put the binder or file folder someplace they deem safe and … Continue reading What’s the Best Way to Organize Your Estate Plan?
Top Benefits of Estate Planning
Despite the hard lessons learned during the COVID pandemic, surveys repeatedly show most Americans still don’t have an estate plan in place. According to the article “Five benefits of estate planning” from The Aspen Times, a comprehensive estate plan ensures your assets are distributed according to your wishes when you die, minimizes taxes on your estate and protects … Continue reading Top Benefits of Estate Planning
You Need a Completed and Properly Prepared Will
The first two essential estate planning documents are the durable power of attorney for legal and financial matters, followed by a healthcare power of attorney. Next is the last will and testament. However, unlike the first two, the last will is not used until after death, explained in the article titled “Completing a will ensures wishes … Continue reading You Need a Completed and Properly Prepared Will
Do You Need a Revocable or an Irrevocable Trust?
It’s not always obvious which type of trust is the best for an individual, says an article titled “Which is Best for Me: A Revocable or Irrevocable Trust?” from Westchester & Fairfield County Business Journals. In a revocable living trust (RLT), the creator of the trust, known as the “grantor,” benefits from the trust and can be the … Continue reading Do You Need a Revocable or an Irrevocable Trust?
How Do I Leave Assets for Heirs?
How to distribute assets to beneficiaries isn’t always a simple decision. Not only do you want to consider how best to distribute your assets, but you also want to consider how and when beneficiaries should be able to access inheritances and then ensure this is all documented in your estate plan. An article from Kiplinger, “Estate Planning? … Continue reading How Do I Leave Assets for Heirs?
What is an Estate Planning Checkup?
The start of the year is the time to review and revisit your estate plan. Just like going to the doctor and dentist for regular exams, it’s basic self-care. An article from Kiplinger, “Need an Estate Planning Checkup? Now is the Perfect Time,” advises having an annual checkup with your estate planning attorney before anything goes wrong. Estate … Continue reading What is an Estate Planning Checkup?