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...]
Probate Avoidance Made Easy (part 2 of 2)
Probate can be an extremely costly, lengthy, and public process. Many people take the time to carefully plan their estate in order to avoid probate. If you’re looking to avoid probate, you will need to utilize the right techniques. Take a look at some more great ways to avoid probate. If you have any questions or if you’re ready to discuss your probate avoidance needs, meet with an experienced, qualified estate planning attorney. Gift during your lifetime. If you’re able and willing … [Read more...]
Probate Avoidance Made Easy (part 1 of 2)
Are you looking to avoid probate? Luckily, there are steps that you can take to ensure that your assets avoid the probate process. Avoiding probate will allow your loved ones to get their inheritances quickly. Avoiding probate can also save time, money, and keeps your affairs private. Take a look at the information below to learn more about some of the probate avoidance options. If you have any questions or if you’d like to discuss a probate avoidance plan, meet with an experienced, … [Read more...]
Common Estate Planning Myths (part 2 of 3)
Friends, family, acquaintances, and the internet are a breeding ground for estate planning myths. These myths can lead to a failure to plan or a plan that fails. To set the record straight, we are dispelling common estate planning myths in this three part article. 3. Joint ownership, commonly called joint tenancy, is an inexpensive and easy way to avoid probate. It’s cheaper than using a fully funded revocable living trust. Myth!!! Joint ownership means that you could lose your … [Read more...]
Common Estate Planning Myths (part 1 of 3)
Friends, family, acquaintances, and the internet are a breeding ground for estate planning myths. These myths can lead to a failure to plan or a plan that fails. To set the record straight, we are dispelling 7 estate planning myths in this three part article. 1. Estate planning is only for the rich. Myth!!! Estate planning is really for anyone who cares about someone else. If you want to take the burden off your loved ones’ shoulders, keeping expenses, hassle, and time delay to a … [Read more...]
Understanding How Property Ownership Affects Your Estate Plan (part 2 of 2)
When creating your estate plan, you will need to consider how your property ownership fits in with your overall planning needs. If you’re looking to better understand how your assets will transfer after your death, take a look at the information below. Some Forms of Joint Ownership are NOT Controlled by Your Estate Planning Documents Joint tenancy with right of survivorship – With this type of joint ownership, all owners have equal access to the assets. This means that any owner may … [Read more...]
Understanding How Property Ownership Affects Your Estate Plan (part 1 of 2)
If you’re just beginning your estate plan ventures, you may have trouble understanding how property ownership fits in with your estate planning. And, you likely don’t realize the significance of proper asset ownership. It’s important to understand how each of your assets will be distributed after your death as well as how they are controlled or not controlled by your estate planning documents. Take a look at the below information, to better understand property ownership and its effects on … [Read more...]
If You’re in a Second Marriage, It is Important to Plan to Protect Your Children
If you’re in a blended family, such as a second marriage with children from a previous relationship, you can do much to keep the peace in your family with your estate plan. One way to keep the peace, using your estate plan, is to specifically consider and plan for your children. This could include not making your children wait until your second spouse dies before they will inherit. Waiting and putting the children second may cause hurt feelings and a breakdown of relationships that you’ve … [Read more...]
Answers To Your Living Trust Questions (2 of 3)
Trusts have been around for hundreds of years; specifically, the living trust gained popularity in the 1970s as a probate avoidance technique. Today, living trusts are often used as a foundational document in estate plans. We’ve found that many folks have both questions and misconceptions about the living trust; so, in this three part series, we answer your living trust questions. Will I always be the trustee of my living trust? You can be the trustee of your trust as long as you are … [Read more...]
When “No” is the Best Answer
At our law firm, we dedicate most of our time to helping our clients plan their estates, address issues involving incapacity and long term care planning, and helping to administer their estates and trusts after their gone. However, we also regularly get questions from our clients when they are the beneficiaries or heirs of someone else’s estate. When receiving an inheritance, few people consider that there may be a big decision looming. You are still mourning the passing of someone dear to … [Read more...]
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