Property, Probate, and a Downside to Summary Administration?
You may have a family member who was an artist, a free spirit, who never owned a lot of assets. She seemed to always be living in a different place. She may have been your favorite aunt, the cool family member who treated you more like an adult than any other person when you were a kid. She was the [...]
What is a Guardianship?
One of the things we all are concerned about is the possibility that we may become incapacitated. That is, that we may suffer an injury or illness such that we cannot make critical decisions about our property, our assets, our medical treatment, our financial holdings, and overall, our lives.
What Can I Do Now to Avoid Probate Later?
The drawbacks to the probate process can be pretty severe. In fact, many people – regardless of the size of their estate – know that probate is something that is best to avoid as much as possible. Probate can be costly and time consuming. The process can result in loss of control over how assets are handled, and private information [...]
What You Need to Know About Prenuptial Agreements
You are about to be married. It is a time of joy, of celebration, of hopes and dreams, of love everlasting. You are about to begin a marriage, full of wonderful possibilities. Of course, the last thing you will want to consider is the end of the marriage, let alone a prenuptial agreement laying out, contractually, what will happen if [...]
Alternatives to the Formal Administration of Probate?
In an ideal world, our court system works just fine. If someone dies, the surviving family members can avail themselves of the taxpayer-funded courts. The courts, chock-full of legally trained lawyers and judges, will work diligently to look at the relevant factors to ensure that the deceased person’s assets, with or without a will, are distributed fairly.
The Benefits of an Estate Plan and The Pitfalls If You Don’t Plan at All
Many people labor under the assumption that “estate planning” is something that they do not need to worry about. Just the term “estate” seems to indicate the type of wealth that only the 1% have. If that is your perception of estate planning – think again.
Estate Planning: Crafting Your Legacy
According to the American Association of Retired Persons (AARP) an astonishing 60 % of Americans don’t have medical directives, a will, or an estate plan. With death being one of the few certainties in life, this figure is somewhat surprising on its face. However, many people are uncomfortable with estate planning, because they feel it focuses on the unpleasant end.
Guns and Estate Planning
Nursing homes are very expensive, and most people don’t have the funds to support a long-term stay, which is when Medicaid comes into the picture. Before someone can rely on Medicaid to pay the bills, however, they must first use their own assets to defray the costs of their care until they are nearly depleted.