Category: Will
Common mistakes are often mentioned over and over again. There are common mistakes in estate planning that are not often mentioned, despite the fact they are made over and over again, according to the Ithaca Times in “Key estate planning mistakes to avoid,” including: Forgetting to update an estate plan when a spouse or child […]
Knowing the basic concepts is enough to get you started on the right track. You don’t have to have an estate plan. However, if you don’t, the courts will decide where your assets go using statutes written by your state government. Getting started in planning can be a challenge if you don’t have the basic information […]
The status of a will that is written prior to life changing events varies across the nation. Significant life events, such as having more children, should be included in an update of a will, but if not the impact varies from state to state. In Georgia, the will gets revoked, according to the Wills, Trusts […]
Woman does it herself and saves money, but estate and charities may end up paying the bill. A decision by a woman in Australia to use a do-it-yourself will could end up costing her estate a lot of money, according to News.com.au in “Unholy row as court decides on religious woman’s will.” Sandra Marie Hatton […]
If you think a will is just for the rich, you are mistaken. Everyone who has any property at all needs a will, according to CNBC in “Think you’re not rich enough to need a will? Think Again.” Some people believe that if they only have only a little bit of money or property, then […]
Estate planning instruments, including trusts, can be used to avoid the probate process. If some information you have seen or heard has led you to believe a will does not have to go through probate, you are just plain wrong, according to TC Palm in “Common misconceptions about wills and trusts.” Sometimes, misconceptions begin with […]
Don’t assume that you can take care of the plan later. Estate planning can run into two problems: not taking care of the initial planning and then not following up with adjusting for life changes, according to the Sunshine Daily Coast in “Fix your will before it’s too late.” What is the problem with not […]
Can you just show a will to the holder of the assets and take possession? No, you need to head to court. There are numerous misperceptions about how a will works. Attorneys often deal with people upset that it requires approval from a court before it is official, according to The Times Herald in “Wills […]
Fraudulent bankruptcy, jail time and return the £300,000. Julie Spalding, an elderly woman in the U.K., passed away and left her window cleaner her entire estate. Spalding’s nephew challenged the will in court and won, according to the Telegraph in “Window cleaner bequeathed £300,000 by customer faces jail for failing to hand money back to […]
Parents may become disappointed with a child and plan to leave them out of their estate plan. However, they may want to think again, considering the potential problems that can follow. Sometimes the black sheep of the family can create sufficient problems that parents may consider cutting him or her from the estate plan. However, that […]
