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January 2018 Archives

What are the steps of the probate process?

No one ever celebrates the probate process, but they certainly like to celebrate the day that it's over. This is when the assets of the probated estate begin to get distributed, and the beneficiaries get to benefit from whatever moneys that were left to them. Also, even if the estate doesn't have any assets involved with it, family members will usually breathe a sigh of relief and feel a sense of closure that the estate is finally settled.

What will happen to my art collection after I'm gone?

Art is your passion. You've been collecting fine paintings for the last three decades, but now that you're coming closer to the end of your life, you're starting to worry about what could happen to your paintings when you're gone -- especially because they've appreciated in value so much since you originally purchased them.

4 ways to avoid the probate process

In a perfect world, we would pass away and the loved ones named in our will would instantly receive the assets we've bestowed upon them. However, because numerous disagreements can arise during the estate distribution process -- and because creditors get a chance to lay their claims upon the state prior to distribution -- an estate needs to go through probate before its assets can be distributed.

Family tries to secure 'hermit' uncle's $1.6 million estate

A retired factory worker from the Milwaukee area died after developing advanced dementia at the age of 92. Before his health began to fail, however, the man went to a financial advisor in Mequon to get help with a very conservative retirement investment. During the last several years of his life, he ended up giving power of attorney for medical and health issues to his investment advisor -- who he also made the beneficiary of his two annuities and his estate valued at approximately $1.6 million.

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