Thinking About Not Writing a Will Because You Believe You Don’t Have Enough Resources? Think Again. Writing a Will is something most of us know we eventually have to do, but none of us really want to start. Some people believe it is too complicated. Other people don’t want to think about death. Some folks believe that the law … Continue reading Intestacy is Possibly the Worst Mistake for Families of Modest Means
Category: Will
How Does Probate Court Work?
Probate court is where wills are examined to be sure they have been prepared according to the laws of the state and according to the wishes of the person who has died. It is also the jurisdiction where the executor is approved, their activities are approved and all debts are paid and assets are distributed … Continue reading How Does Probate Court Work?
Does My College Aged Kid Need an Estate Plan?
When it comes to estate planning, we usually think of older adults. However, it’s a topic that we should also consider for college students. WDIO’s article entitled “Estate planning is for college students too” reminds us that there’s a number of documents you can put into place in the case of an emergency. Power of Attorney. There are … Continue reading Does My College Aged Kid Need an Estate Plan?
Estate Planning for Different Ages and Stages of Life
Estate planning is a critical means of protecting your financial legacy, providing for loved ones, reducing taxes and preventing unnecessary expenses, says an article from The Seattle Times, “Estate planning needs vary at every stage of your life.” The reasons for an estate plan change depending on your stage of life. However, no matter what your income is, … Continue reading Estate Planning for Different Ages and Stages of Life
The Benefits of a Good Estate Plan
If you don’t have a comprehensive estate plan, state law will control. That’s unlikely to that the state will do what you would choose to do. MSN’s article entitled “What is estate planning?” discusses the benefits of estate planning. Minimizes taxes. Clever structuring of flexible retirement accounts, such as a Roth IRA, can help funnel more tax-free money to … Continue reading The Benefits of a Good Estate Plan
Could Your Estate Plan Be a Disaster?
You may think your estate plan is all set. However, it might not be. If you met with your attorney when your children were small, and your children are now grown and have children of their own, your estate could be a disaster waiting to happen, says an article “Today’s Business: Your estate plan—what could go … Continue reading Could Your Estate Plan Be a Disaster?
Top Five Estate Planning Mistakes
Everyone should have an estate plan, whether it’s a simple will or a detailed and complex one with trusts and strategies for multiple generations. The more care and thought put into the plan, says an article, “5 Common Estate Planning Mistakes to Avoid” from Kiplinger, the better the outcome. There are some common mistakes you can avoid with … Continue reading Top Five Estate Planning Mistakes
Can You Prevent Family Fights over Inheritance?
Inheritance battles can create new conflicts, inflame long-standing resentments and squander assets intended to make heir’s lives better. What can families do to prevent estate battles when a loved one’s intentions aren’t accepted is the question asked by the article, “Warning Signs Of Estate Disputes—And Ways to Avoid Them,” from mondaq.com. Here are the more common scenarios leading … Continue reading Can You Prevent Family Fights over Inheritance?
Exactly Why Do I Need a Will?
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?
Can You Prevent Will from Being Contested?
The best planning doesn’t keep disappointed family members and hangers-on from trying to get what they consider their “fair share” of an estate. There are some steps you can take to avoid this happening to your estate, says an article, “Counterattack: Tips for Thwarting a Will Contest,” from Kiplinger. Traditionally, an in terrorem provision is added, known as a “no-contest” … Continue reading Can You Prevent Will from Being Contested?