While it may not be openly discussed, one thing people start to speculate about after a loved one passes away is often the inheritance they may receive. In fact, long, drawn out court battles are often fought over the inheritance left to loved ones – or not left as the case may be. What happens though, if a decedent left you an inheritance that you don’t want? Because it isn’t as simple as saying “no thanks,” the Bath estate planning attorneys at the Law Office of Michael Robinson, P.C. explain … [Read more...] about Can I Reject an Inheritance?
Bath inheritance planning is important if you have loved ones you want to provide for after you are gone. In far too many situations, it does not make sense just to leave a last will and testament and allow assets to pass through the probate process -- and it also does not make sense to make no plans at all and allow intestacy law to determine what happens to your hard-earned money or property. Instead, you should work closely with a Bath inheritance planning lawyer to make certain that you … [Read more...] about Steps Involved in Bath Inheritance Planning
During the inheritance planning process, you are going to need make a decision regarding the legal tools to use to ensure your assets are protected and your heirs can be provided for. There are many different legal tools which can be a part of your plan, and many people find that it makes sense to include trusts as an essential component of their inheritance plan. There are also different types of trusts, so there may be a variety of different options available to accomplish your goals. The … [Read more...] about Should Trusts be Part of Your Inheritance Planning?
Even though the idea sounds strange to most people, there might come a day when you choose to refuse an inheritance. Whether you are receiving your inheritance from a grandparent, a parent, another relative, or someone who is not related to you at all, choosing to refuse the gift is sometimes a prudent decision. While determining whether accepting an inheritance is the right choice for you requires the advice and assistance of an experienced estate planning lawyer, here are several facts about … [Read more...] about Refusing Inheritances Might be a Good Option
If you are just beginning the estate planning process in New York, there are some simple steps you can take to help you create a plan that will help avoid many of the common events that lead to needless estate litigation. When we talk about estate litigation, we are talking about lawsuits or legal actions that arise because of the estate planning tools you created or the choices you made.Though it is not possible to create an estate plan that will guarantee that no litigation will erupt, it … [Read more...] about Preventing Estate Litigation Problems
Estate planning is often a very emotional, personal process that will affect you and your family for years to come. Part of this process involves looking at the important legal issues that will affect you and your family as you get older, as well as after you are dead. Yet the law is only one piece of this puzzle. Only you know what you want to leave behind, and many people who are creating an estate plan know that inheritances and property are only a minor piece of the picture. What’s most … [Read more...] about Protecting the Family Story
As you create your estate plan in New York, you might come across the term “per stirpes.” Though you’ve probably not come across this term before, you should have a basic understanding of what it means as it relates to your estate plan. Terms like “per stirpes” and its cousin “per capita” can play a significant role in determining how your inheritances are distributed to your descendants. Here are the basics.Per Stirpes DistributionWhen you create an estate plan, you’ll have to decide how … [Read more...] about What does “Per Stirpes” Mean?