After someone dies, their estate typically must go through the probate process. However, many people are not aware of how time-consuming and expensive this process can be. The court-supervised process can be expensive and drawn out. It’s important to have a relatively...
Year: 2020
How do pour-over wills work?
When you created your revocable living trust, you likely transferred most of your assets to its ownership. Yet, you may have left certain assets out of your trust, whether by accident or on purpose. You will want to make sure, though, that these assets pass on to the...
Is estate litigation in your future? 5 Ways these cases come up.
Probate, even when it goes smoothly, can be a time-consuming hassle. If you are fortunate, a relatively low-maintenance estate may move through this process in about nine months. For more complex estates, probate may eat up 18 months or more. Litigation can upend...
4 things to look for in an executor
Preparing for your time to go isn't always fun. Fortunately, it can give your loved ones some relief when the day comes. Before you die, you will want to name an executor to look after your estate. This person will be managing your assets and liabilities,...
Is it time to review your estate plan?
Estate plans are essential tools that help you secure your estates and ensure that our loved ones receive exactly what you want them to. Establishing an estate plan is vital, but it is not enough. Life can change unexpectedly, and an estate plan cannot reflect these...
Is my spouse entitled to my estate after we divorce?
As you go through divorce proceedings, you may think that you have accounted for every detail of your split. Yet, people often overlook their estate plans during this time. Yours may have your spouse inheriting a significant portion of your assets. Or, they may be the...
Your estate plan can provide for your children when you’re gone
When you have a child, you hope everything will be perfect. However, little in life is guaranteed, so this is the moment to review your estate plan to ensure that your children get the care they deserve if you can’t be there for them.Setting up the terms of your...
How can I control how my heirs spend their money?
If you have been thinking about your estate plan recently, likely, you will already have a good idea of the people whom you would like to inherit your estate. You may want to leave your estate to your children or grandchildren. If this is the case, you may have some...
What documents do you need for medical and financial plans?
You have many decisions to make when you're creating an estate plan. You shouldn't become so focused on what's going to happen to your assets that you overlook the importance of setting plans for your end-of-life care. There are a few things that you should get...
Writing a will when your child is born
People often put off writing a will. Maybe they think it's too confusing. Maybe they think they don't really need one. Maybe they plan to do it and they just don't have the time.One of the events in life that really makes the need for a will more clear, though, is...