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May 2017 Archives

Situations when you need to change your will

A will is not a "static" document. At different points in your life, you'll need to change or update your will, perhaps depending on the number of children and grandchildren you have, your marital status or other changing life circumstances that could affect both your estate and the people who will inherit your estate.

Mistakes to avoid with your inheritance money

Approximately 33 percent of Americans will receive at least one significant inheritance. This money will no doubt be very useful to you in paying off long-term debt like a mortgage, or helping to finance a child's education. However, there is also the danger that you could squander the inheritance unwisely. This happens more often than you might think.

Should I keep my inheritance details a secret?

A recent survey conducted by the Institute for Private Investors and the Wilmington Trust discovered that approximately 67 percent of individuals are afraid to share information about their estate plans with heirs. Many of these individuals say that they don't want to disempower or demotivate their heirs.

Probate estate administration and will contests

In the best of circumstances, everyone will honor the terms of the will left by your deceased loved one, and your loved one will have made those terms exceedingly clear and easy to follow. However, complicated issues can arise during the probate process that interfere with the swift and easy dispensation of an estate. For example, more than one will might exist, or the will on file might have been signed under duress. These kinds of issues could result in the validity of the will being challenged.

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