Probate sounds expensive and complicated, but it is simply a standard legal procedure formalizing how assets pass from a deceased person’s estate to their chosen beneficiaries or heirs. Whether or not you require probate depends on the type of property… Read more »
Category: Estate Planning
The Benefits of Living Trusts for Seniors
It’s unfortunate that seniors can be targets for financial abuse and scams. Sadly, the elderly are often taken advantage of by strangers — and sometimes even their own family members. That’s why it’s important that planning is in place to… Read more »
An Overview of the Fiduciary’s Role
Family members or friends may ask you to act as their power of attorney. Your person may be planning for when they might become unable to take care of their affairs. For example, they might become disabled or incapacitated, and… Read more »
A Guide to Legal Planning for Alzheimer’s Disease
Over 5 million Americans suffer from Alzheimer’s disease and there is no cure. Projections by the Alzheimer’s Association (alz.org) are that by 2050 more than 14 million Americans will suffer from this disease. What can you do if you are… Read more »
The Process of Probate Entails the Transfer of Property
During probate, the will of a deceased individual is authenticated, assets are reviewed, debts are paid, taxes are collected, and assets are distributed to heirs. Legally, probate is the process of authenticating the will of a deceased person, reviewing their… Read more »
Planning Your Estate: What You Need to Know
While estate planning may seem exclusive to the very rich, an estate is simply the aggregate of property that an individual owns, and nearly everyone owns something. Property ownership includes individual as well as jointly owned bank accounts, stocks and… Read more »
What Are the Circumstances Under Which Disinheriting a Child Becomes a Mistake?
Property or money inheritance is generally treated equally by most parents. But sometimes, parents intentionally choose to not leave anything to a child, and the reasons for doing so may vary. One reason could be that a child who is… Read more »
Elder Law and Estate Planning: How They Differ
Estate planning and elder law differ from each other when it comes to planning for your future financial affairs and health care needs. Estate planning and elder law also have some similarities. Even though these two types of law are… Read more »
Powers of Attorney and Becoming an Adult
As your child turns 18 (in most states), it might be hard to envision that the little child you once relied on for everything is now an adult. Now your child is free to vote, marry, apply for a credit… Read more »
What Happens to an Inheritance When the Beneficiary Dies?
Upon a beneficiary’s death, who receives his or her estate? You may be wondering whether if you leave property to your brother Jim, but he dies before you, would his kids inherit the property in his place? The answer is,… Read more »