When beginning to think about your estate planning needs, you may decide to execute a will. A will can allow you to achieve a number of goals. However, it likely won’t allow you to handle all of your estate planning affairs unless you have a simple and modest estate. Take a look at the following information, to learn more. If you have any questions about the use of a will, contact an experienced and qualified estate planning attorney. You can’t control all asset distribution. It’s … [Read more...] about Why a Will Isn’t the Only Document You Need (part 2 of 2)
Probate
Caution: Not All Living Trusts Will Avoid Probate
Many folks in California create living trusts to, among other reasons, avoid the hgh costs of a probate proceeding. Regretabably, some may think they’re saving money even more with do-it-yourself kits, Internet trusts, or by working with a paralegal or a general practitioner. If you go those routes, you increas your chances that your living trust may not avoid probate. Why? Why Won’t my Living Trust Avoid Probate? Good question. We get this question all of the time and are happy to … [Read more...] about Caution: Not All Living Trusts Will Avoid Probate
What Happens If We Can’t Agree on Who Should Administer My Mother’s Estate?
The death of a parent, no matter how old you are, is never easy to accept. If you are an adult child who recently lost your mother, you are undoubtedly still going through the grieving process. At the same time, you may be feeling pressure to get moving with the administration of your mother’s estate. The situation will only be worse if you have a situation where the family cannot agree on who should oversee the administration of the estate. If you find yourself in that situation, it is … [Read more...] about What Happens If We Can’t Agree on Who Should Administer My Mother’s Estate?
Do You Have to Go through Probate with a Living Trust?
Estate planning typically involves trying to achieve numerous goals and objectives in one comprehensive plan. One of the more common estate planning goals is probate avoidance. There are several things you can do within your estate plan to help you avoid probate. Using a living trust to distribute the majority of your estate is one way to help your estate avoid probate. What Is Probate? The estate you leave behind includes both real and personal property as well as both tangible and intangible … [Read more...] about Do You Have to Go through Probate with a Living Trust?
5 Questions to Ask Yourself about Your Estate Plan
As you go through life, you need to make sure that you have a valid and comprehensive estate plan in place. An estate plan will allow you to live your life with less stress, and can ensure that your affairs are in order, no matter what. Take a look at the 5 questions below to ask yourself about your estate plan. Do you have a will or trust in place? If you’re just beginning your planning, you may not have a will or trust. These are fundamental planning tools. You can appoint a … [Read more...] about 5 Questions to Ask Yourself about Your Estate Plan
Estate Planning Terminology: Letters of Administration and Letters Testamentary
Letters of administration and letters testamentary are specific types of legal documents that are used in the probate process, the court-based legal process in which property that a deceased person owned is transferred to others. The laws and procedures involved in the issuance of these letters of differ by the type of probate procedure involved. The following discussion discusses California's procedures. The Probate Process: Once a person dies with either a will or no will or trust, someone … [Read more...] about Estate Planning Terminology: Letters of Administration and Letters Testamentary
What Happens After You Die…With or Without an Estate Plan (part 2 of 2)
You may be wondering how your affairs will be handled after your death, whether you have an estate plan in place, or not. Take a look at some of the information below, to better understand how your affairs will be handled if you do indeed have a plan. Part 1 of this 2 part article discusses what happens if you do NOT have an estate plan in place. With an estate plan… If you only have a will in place, your affairs will likely still have to go through the probate process. This is … [Read more...] about What Happens After You Die…With or Without an Estate Plan (part 2 of 2)
What Happens After You Die…With or Without an Estate Plan (part 1 of 2)
Whether taking the time to create an estate plan or not, many people wonder how their affairs will be handled after they die. This is a completely natural thing to think about. It’s important to have some idea of how affairs are handled, so that you understand the power of estate planning. Take a look at some of the information below, to better understand how your affairs will be handled. If you have any questions, or if you’d like to create an estate plan, contact a qualified, … [Read more...] about What Happens After You Die…With or Without an Estate Plan (part 1 of 2)
You May Still Face Probate After Creating Your Living Trust
Many folks create living trusts to, among other reasons, avoid the high costs of a California probate proceeding. Regrettably, some may think they’re saving money even more with do-it-yourself kits, Internet trusts, or by working with a paralegal or a general practitioner. If you go those routes, you increase your chances that your living trust may not avoid probate. Even with a high quality trust, failing to follow through with the “funding” process could trigger a probate. Why Won’t my … [Read more...] about You May Still Face Probate After Creating Your Living Trust
Do All Estates Need to Be Probated?
When a loved one passes away, someone must handle the administration of his/her estate shortly thereafter. If the decedent left behind a Last Will and Testament, the individual appointed to be the Executor in that Will is who will handle the estate administration. If the decedent died intestate (without a Will), the court will appoint a Personal Representative to serve in the position. This person is generally referred to as an Administrator. Either way, if you find yourself in charge of … [Read more...] about Do All Estates Need to Be Probated?
