Category: Probate
“Adding an adult child to your house deed, or giving them the home outright, might seem like a smart thing to do. It usually isn’t.” Transferring ownership of the family home to an adult child may seem like a simple approach for avoiding having the house go through probate, or even qualifying easily for Medicaid. […]
“Bradford Lund tries to prove he is mentally capable of managing his affairs but is trapped in a probate system susceptible to predators.” Even visionary Walt Disney could not have imagined the struggle his grandson Bradford Lund has endured trying to claim his share of the Disney family fortune, reports the Daily Bulletin in a […]
“At the time, he had gone so far as to have his will drawn up, but he hadn’t finalized it. In addition, he hadn’t authorized anyone to have power of attorney, in case of illness.” The gentleman at the heart of this article isn’t the first, and sadly he won’t be the last, to start […]
“In other words, family members who are not named to inherit anything in the will may still see the list of all of the assets. If you don’t want that result, you can avoid it by establishing a trust.” Privacy is just one of the benefits of having a trust created as part of an […]
“Probate is the legal process of presenting the will to the public, by hiring an attorney to present the will to the judge of the probate court. If the judge finds that the will meets all the necessary legal criteria, and there is no contest of the will, the judge signs a court order recognizing […]
“Last wills and testaments, which were invented centuries ago, are the most famous estate-planning documents.” Everyone knows what a last will and testament is. However, a will is not always the best way to distribute your assets, explains the Times Herald-Record in the article “Living trusts are better choice than wills“. Most people think that […]
“If you’ve ever spent time working through your estate plan with a professional, you know how important it is to select and update your beneficiaries. Failing to do so can result in costly mistakes—for you and your loved ones.” Here’s one way to mess up your estate plan: naming beneficiaries not by name, but by […]
“Seventy-seven percent of respondents in a recent survey said estate and legacy strategies were important for everyone, not just wealthy individuals, yet only 24% said they had taken the basic step of designating beneficiaries for all of their accounts.” Think Advisor reported on a survey conducted by a financial services firm that revealed good news […]
“When you create a living trust, you also sign a pour-over will. One of the main benefits of a trust is avoiding a court proceeding on death called probate, which is when wills are used.” If the goal of estate planning is to avoid probate, it seems counterintuitive that one would sign a will, but […]
“Thanks to the Internet, everyone has the ability to draft wills, trusts and a variety of other legal documents. Many documents can be produced for less than $100, requiring only a few mouse clicks and filled-in blanks.” While the simplicity and low cost of online legal documents is appealing, the results are all too often […]
