Preventing Probate Litigation
The complexities of probate litigation can range from guardianships and conservatorships to will and trust contests, to real estate disputes, to using true intentions to make gifts. By planning for the future, one can greatly reduce or eliminate probate litigation risk. The creation of comprehensive estate plans that are routinely
7 Dangerous Reasons for Delaying Estate Planning
Neither my family nor I own much. Can't we delay planning until we're financially secure? No, you shouldn't. It is vital that you designate someone as your legal guardian in the event of your death. There is nothing worse than having your children become wards of the court or being
The Powers and Limitations of a Will
A will specifies who will receive your property after your death and is an essential part of a comprehensive estate plan. When you die without an estate plan (intestate), the state will distribute your assets and property according to state law and possibly against your wishes. Having a will allows
Trusts For Life Insurance and Wealth Management
As the federal estate tax exemption allowance could be lowered, you may want to rethink the way you plan to pass generational wealth to your heirs. The Senate Democrats are proposing to reduce the current estate tax exemption from $11.7 million to $3.5 million for individuals and $23.4 million to
The Need for Probate
Probate may seem complex and expensive, but it is a standard legal procedure that establishes how decedents' assets can be passed to their chosen heirs. The type of property that you own and how you own it, as well as your state's laws, determine whether you need probate. The probate
Here Are Five Mistakes People Make When Planning Their Estates
In your adult life, you spend the first half trying to achieve financial stability, followed by the second half trying to maintain it. According to this adage, many people devote considerable time and effort to ensuring their wishes in their estate plan are carried out. Being able to provide for
Estate Planning of Pet Trusts
You may have heard, back in 2007, of a Maltese pet pup named "Trouble" whose human, hotel heiress Leona Helmsley, left a trust fund of $12 million to pay for Trouble's care. Unfortunately, pet inheritances ever since have enjoyed a dubious reputation. The Value of an Animal Trust for Your Pet For
Understanding the Probate Process
The probate court is the legal process of validating a person's will and ensuring an executor handles the decedent's assets, debts, and final tax filings by law and according to the decedent's wishes. To begin probate, a personal representative or executor must file with the county court where the decedent
Does Your Estate Plan Account For a Pandemic Like COVID-19?
COVID-19 will probably be with us humans forever, endemic in large swaths of the world in varying degrees of intensity. According to National Geographic, COVID-19 may eventually transition into a "mild childhood illness," joining the four endemic human coronaviruses which contribute to the common cold. Three determining factors, human immunity retention
Why It Is Essential To Make a Will
If you have loved ones, then creating a will for your peace of mind and their protection is the right thing to do. Your last will and testament communicates your wishes regarding your dependents and how to dispose of your property when you die. Though crafting your will can make