Just What Is in an Estate Plan?
Unfortunately, death doesn’t just happen to other people. We should all get our affairs in order, so that our loved ones can focus on grieving and moving on once we pass.
Probate services refer to the legal services provided to individuals or families involved in the administration of a deceased person’s estate. These services typically involve the court-supervised process of distributing the deceased person’s assets and properties to their beneficiaries or heirs according to their will or state laws if there is no will. Probate services may include drafting and filing legal documents, representing clients in court, resolving disputes between beneficiaries, managing estate assets, and advising clients on tax implications and strategies for asset protection. The goal of probate services is to ensure that the estate is distributed in an orderly and fair manner while minimizing costs and maximizing the value of the estate for the beneficiaries. Probate services are often provided by lawyers, but may also be provided by other professionals such as estate planners or financial advisors.
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Can I Avoid Probate?
If you don’t have a will and an estate plan, probate is an after-you’ve-gone legal struggle. It could last months, if not years, in a battle over what you intended your family (or friends) to have: your estate!
Do Single People Need Estate Planning?
If you don’t have a spouse or children, you might think you don’t need to do much estate planning. However, if you have any assets, familial connections, or interest in supporting charitable groups – not to mention a desire to control your own future – you do need to establish an estate plan.
Living trust and estate planning form on a desk.
Do Most People Need a Living Trust?
If you’re putting together an estate plan, you have no doubt heard about the benefits of a living trust.
How Does a Trust Fund Work?
Trust funds are an important estate planning tool. They can protect your assets while you’re alive and help ensure that you leave money to your children or other loved ones after you die.
How Do I Avoid Probate?
There are good reasons why people want their estates to avoid probate, and a lot of ways to do it.
Can a Vacation Home Be Kept in the Family for Generations?
These vacation homes may also comprise a significant portion of the family’s wealth. Therefore, it’s understandable that homeowners want to pass their properties and family traditions to future generations.
How Do You Get a Power of Attorney?
To get power of attorney (POA), the person granting you that power must name you as the agent to have the powers specified in the POA document. It must be signed by the giver while s/he is sound of mind.
Is Estate Planning Affected by Property in Two States?
When it comes to owning property in two different states, you may wonder how to manage these in your estate plans.
Why Shouldn’t I Wait to Draft my Will?
It’s an important task that is easy to procrastinate. However, here is why you shouldn’t:
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