You may not have known this, but Sherman Hemsley, the actor who played George Jefferson on “The Jeffersons,” the TV sitcom that aired from 1975 – 1985 and was nominated for eight Golden Globe awards, died in July from lung cancer and, because of intra-family disputes over his will, his body was kept in refrigerated storage for five months. 78-year-old Richard Thornton, the recently verified half-brother of Mr. Hemsley, had contested the validity of Hemsley’s will, claiming that he … [Read more...] about Sherman Hemsley’s Will Upheld as Valid by the Court
Probate
If You’ve Recently Moved, Consider Changing or Updating Your Will
As a general rule of thumb, you need to review your estate plan any time you experience a major life event or a change in circumstances. One of these key life events, moving to a new state, should prompt you to review at least your last will and testament, if not everything else. There are both practical and legal concerns you will need to consider if you created a will in a different state and have since moved to a new one. Issue 1: Where are your representatives? As part of creating … [Read more...] about If You’ve Recently Moved, Consider Changing or Updating Your Will
FAQ about a Notice to File Claims in Probate
When we die, the estate that we leave behind goes through a process known as probate. It is during this process that any outstanding debts one may have owed will have a chance to be satisfied from his or her estate. In other words, the executor of an estate (i.e., the person responsible for “wrapping up one’s estate”) has a duty to try and take care of any outstanding debts, but, in order to do so, the executor or must have notice of that outstanding debt. 1. How do I let the … [Read more...] about FAQ about a Notice to File Claims in Probate
Choosing the Right Executor
An executor is a person who manages the estate settlement process after someone has died. If you create an estate plan you get to choose who your executor is, even though the court will have to approve the nomination and officially recognize the executor, also called a personal representative or estate administrator. If you're having difficulty selecting your executor, here are a couple of tips you may want to consider. Time and Money Executors are not free, and they will have to be … [Read more...] about Choosing the Right Executor
Why Escheat Matters
The term escheat refers to the transfer of title to the state of a person’s property when the owner of the property dies without a valid Will, called intestate, and is not survived by any heirs legally entitled to take the property without a valid will. An applicable heir may be a spouse, descendants, parents, grandparents, descendants of parents, children or grandchildren of grandparents, or great-grandchildren of grandparents, or as otherwise set forth by each state’s escheating laws. Real … [Read more...] about Why Escheat Matters
What is a Spousal Elective Share and How Does it Work?
A spousal elective share is a protective mechanism that allows a surviving spouse the right to “elect” against the will of their deceased spouse and request a minimum amount of the estate. This protects a surviving spouse if the will tries to disinherit them or only provide them with a small portion of the estate. The elective share serves to ensure that surviving spouse’s needs are provided for when their spouse dies, in a similar way that a spouse would provide alimony if the couple were to … [Read more...] about What is a Spousal Elective Share and How Does it Work?
Estate Planning Questions – What Does “Insolvent Estate” Mean?
When people die, they leave behind both assets and obligations. For example, let's say a relative dies leaving behind assets worth $500,000, but also a mortgage, credit card debts, and other obligations worth $700,000. In this situation the estate is deemed insolvent because there are not enough assets to pay for the remaining debts. What happens to insolvent estates and what impact do they have on the families of the deceased person? Let's take a look at some common situations. Some creditors … [Read more...] about Estate Planning Questions – What Does “Insolvent Estate” Mean?
What You Need to Know About Will Registries – FAQ
1. If I make a will, do I have to register it with a will registry? If you choose to write a last will and testament, you have no obligation to file that document with a will registry. Though there are some states which have will registries, or allow you to file information where your will can be found, that type of registration is never required. All you have to do to make a will is ensure that it complies with state requirements, and filing your will with state will registry is not one of … [Read more...] about What You Need to Know About Will Registries – FAQ
The Reading of Your Will, and Why it Never Happens
Estate planning attorneys are commonly asked about a number of legal issues that have little or no basis in reality. One of the more popular misconceptions is the idea that after you die your family and friends will have to gather in a room and listen to your lawyer read the terms of your will. Though this misperception is often reinforced by movies or television, it is almost entirely a fictional device and is not required in any state. The “reading of the will” idea probably originated from … [Read more...] about The Reading of Your Will, and Why it Never Happens
Probate and Jointly Owned Property – 3 Questions
Question 1: What is jointly owned property and why does it matter when it comes to probate? When you die, much of your property will have to go through the probate process before someone else can legally own it. However, if you are a joint owner in property, such as owning a house as joint owner with your spouse, that property usually doesn't have to go through probate. When a co-owner of jointly owned property dies, the remaining owner still retains ownership rights. Question 2: Are there … [Read more...] about Probate and Jointly Owned Property – 3 Questions
