Avoiding probate is one of the main reasons that many people create a revocable living trust during lifetime instead of relying on a will to transfer their money and assets to their beneficiaries after their death. Probate is the court process that proves the validity of the will Continue reading
A loved one’s passing is challenging on many different levels. In addition to the emotional difficulty of processing someone’s death, there are also the many tasks that must be dealt with, such as going through their various accounts and taking the necessary steps to cancel them or Continue reading
A comprehensive estate plan addresses not only what happens to your property and assets when you pass away, but how to take care of you and your affairs if you become incapacitated. Incapacity planning is not just for those in their older years. An accident or illness can happen at Continue reading
If you own your own business or have accumulated some investment portfolio, it is important that you do as much as you can to protect the efforts of your hard work and dedication. A family limited partnership (FLP) is a strategy worth considering — whether you seek to protect yourself, Continue reading
A living trust is often promoted as a way to avoid probate and the costs, time delays, and loss of privacy that accompany it. Probate is the legal process for proving the validity of a person’s will after their death and appointing the nominated personal representative or executor. Continue reading
Although having a will is a good basic form of planning, planning with a will involves some drawbacks. A primary drawback is that a will does not avoid probate. If you own property such as a house, car, bank account, investment account, or other asset in your name only and you have Continue reading
A big goal in estate planning is to make things easier for our loved ones. A comprehensive estate plan can allow your money, property, and legacies be transferred to your intended beneficiaries in a harmonious, stress-free, and fair process so that your loved ones to grieve and deal Continue reading
For many of our clients, probate is an unnecessary process that we try to avoid. But the probate system is there for those who need it, in some cases because of lack of proper planning and in others because of the benefits and protections that probate may offer. The probate system Continue reading
Many people have mistaken ideas about estate planning. The uncomfortable thoughts of incapacity or death accompanied by inaccurate information that is shared have caused many to accept common myths.
Myth #1: Only the Rich Need an Estate Plan
We often hear in the news about a celebrity Continue reading
A loved one’s passing is felt by their entire surviving family. But when it comes to carrying out the decedent’s final wishes, not everyone has an equal say. Instead, in most cases, only one person—the executor, personal representative, or successor trustee—plays that key role. This Continue reading
After a loved one dies, their money and assets must be distributed to the right people, either according to their will or state law (found in the default distribution scheme in its “intestacy” statute). While most people want the settlement process to be done as soon as possible, Continue reading