Getting married again after a divorce or the death of a spouse marks the beginning of a new stage. However, your new relationship will affect many areas of your life, including your children’s inheritance. For this reason, it’s essential that you revisit and update...
Personalized Attention For Your Family’s Probate & Estate Needs
Year: 2022
Your residuary estate may be worth more than you think
It is very easy to make big mistakes when planning your estate. One of the most common planning errors involves a failure to properly identify and value your assets. For example, you may already have created instructions for the descent of your home, your vehicle and...
Should an estate plan address sentimental items?
For much of estate planning, even though you’re dealing with very valuable assets, they don’t have much sentimental value. Your heirs will certainly be able to split up your bank account or life insurance policy, for example, but this is more of a logistical question...
New parents also need estate plans
It’s often assumed that elderly individuals need estate plans, or at least those who have recently retired and are getting their finances in order. It’s fairly natural for people to think that they don’t need to worry about estate planning until they reach that stage...
Dealing with a loved one’s home immediately after their death
If you’re the executor of a relative’s or friend’s estate, one of their largest assets (in size and value) may be their home. Whether it’s a small condo or a sprawling house, if it will be empty, you need to take immediate steps to secure it. That may mean changing...
What happens when an executor abuses their position?
The executor of an estate has to do a lot of time-consuming work. They have to show up for court hearings, communicate with creditors and maintain records of how they distribute the estate assets. Typically, the individuals who assume such positions need to be...
Why do so many people feel guilty about their inheritance?
Even people who take the time and effort to put an estate plan in place too often don’t talk to their loved ones about it. It’s uncomfortable for some people, particularly older generations, to talk about money. Further, loved ones sometimes resist attempts at...
How do irrevocable trusts protect assets from creditors?
When you leave your heirs assets and property through a will, you expect them to properly manage the wealth you worked so hard to acquire and, if possible, pass it down to future generations. However, unexpected life events can come in the way of that. Picture a...
Can you spot a forged will?
A will is a powerful estate planning tool. In fact, it is the cornerstone of any estate plan. When a testator properly creates their will, they do so hoping that this will take the guesswork out of the picture and ensure that their wishes are honored when they die....
Why use a disinheritance clause?
When you’re creating an estate plan, you want to think carefully about every single clause that you use and how it can change that plan. One example of this is using a disinheritance clause. This allows you to essentially remove someone as a beneficiary – such as a...