Did you think you had to be rich to have an estate? Think again! From a legal perspective, your estate includes everything you own, from tangible property like a car, house, furniture, as well as intangible assets like insurance policies, bank accounts, retirement and investment accounts. You don’t have to be rich to have an … Continue reading Why You Need an Estate Plan
Category: property
Do I Need a Trust, or a Last Will and Testament?
Whether to have a will or a trust or both is often discussed when embarking on the estate planning process. Arriving at the answer, as discussed in an article, “Personal needs, preferences drive estate planning,” from The News-Enterprise, requires a closer look at each individual’s situation. The last will and testament doesn’t take effect until two events occur: … Continue reading Do I Need a Trust, or a Last Will and Testament?
How Do You Stop a Sibling from Stealing an Inheritance?
If the parent does not have a will, there may be questions about which sibling should inherit what. This gets complicated fast. State law can define siblings’ rights after parents’ deaths, explains an article from yahoo!, “Can a Sibling Take Your Inheritance?” An estate planning attorney can be a valuable resource, regardless of the size of the … Continue reading How Do You Stop a Sibling from Stealing an Inheritance?
What Is Included in an Estate Inventory?
The executor’s job includes gathering all of the assets, determining the value and ownership of real estate, securities, bank accounts and any other assets and filing a formal inventory with the probate court. Every state has its own rules, forms and deadline for the process, says an article from yahoo! Finance titled “What Do I Need to Do … Continue reading What Is Included in an Estate Inventory?