Requirement 1: You have to qualify. If the courts simply allowed anyone off the street to come in and challenge a Will whenever they wanted, it would be an absolute disaster. In order to challenge a will, you must first be able to prove that you have what is known as “standing.” To have standing to challenge a Will, you must be able to gain something if you win the challenge. This essentially boils down to whether you would have inherited more under a previous Will, or under the laws of … [Read more...] about So You Want To Challenge a Will – 3 Requirements
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Cohabitating Couples and Estate Planning – 3 Questions
Question 1: If I die, will my partner inherit my property? Answer: Probably not. Unless you have taken steps to ensure that your partner will inherit your assets after you die, there is no provision in the law that grants your partner the right to inherit. Unlike married couples, cohabitating couples are not entitled to receive property from the other upon that person's death. You can, however, choose to leave your partner an inheritance by creating a will or other estate planning … [Read more...] about Cohabitating Couples and Estate Planning – 3 Questions
Estate Planning For Young Parents
All too often, young parents ignore estate planning because they believe they are too young, cannot afford the expense, or are in excellent health and will not have to worry about it for very long time. Regardless of your reasons, young parents are almost at a greater need of estate planning than the elderly. Let's take a look at why young families need to develop estate plans as soon as possible. Childcare If your child is faced with a sudden reality of both parents dying, who will step in to … [Read more...] about Estate Planning For Young Parents
Learning From Mike Wallace – 3 Incapacity Planning Steps
When famed journalist Mike Wallace died in April at the age of 93, he left behind a lifetime of hard-nosed investigating and aggressive interviews. He also, in the final years of his life, suffered what an estimated one out of eight baby boomers will suffer from: dementia. This disease, as well as other medical conditions, can rob us of our mental faculties, which is why it's important to begin planning for the possibility now. Lesson 1: Have someone else ready to make decisions for you. If … [Read more...] about Learning From Mike Wallace – 3 Incapacity Planning Steps
Kinkade Estate Already Embroiled in Court Fight
When Thomas Kinkade died in early April at the age of 54, his legacy as a widely popular commercial artist was firmly established. The man who called himself “the painter of light” left behind an estate worth millions. However, though the estate has not yet been submitted before a probate court, it has already resulted in a legal fight. Representatives of the Kinkade estate have filed for a restraining order against Ms. Amy Pinto-Walsh, the artist's live-in girlfriend of the past 18 months. Mr. … [Read more...] about Kinkade Estate Already Embroiled in Court Fight
