People sometimes act without having enough information, and negative consequences can come about as a result. This type of thing certainly applies to estate planning. There are websites on the Internet that sell do-it-yourself legal documents, including estate planning devices like last wills. They claim that estate planning is something that you can do by simply filling in the blanks. If you assume that you should use a do-it-yourself last will as a vehicle of asset transfer, your … [Read more...] about What Is the Cost of Probate?
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What Is an Executor?
If you use a last will to express your final wishes regarding asset transfers, you name an executor or executrix. This is the person who will handle the estate administration tasks after you pass away. An executor is a male who holds this position, and an executrix is a female estate administrator. In some states, the estate administrator is called a personal representative. When you are choosing an executor, you should recognize the fact that it is not a purely ceremonial role. … [Read more...] about What Is an Executor?
Practical Lessons in Drafting
Individuals who undertake Estate Planning want to ensure that their plan works the way it’s intended. When clients neglect to consider Estate Planning on a regular basis, they set themselves up for failure. Waiting until an emergency arises almost guarantees that the plan will fail when needed the most. Estate Planning completed under duress can lead to unfavorable results. Read on to learn more. … [Read more...] about Practical Lessons in Drafting
The Sky Isn’t Falling
When we learned of the original provisions in the Build Back Better Act, many individuals panicked, rushing to complete Estate Planning or seeking to undo certain aspects of their estate plan. As the Build Back Better Act has evolved, many wondered if they should have waited before making significant changes to their estate plan. No matter what happens with the Build Back Better Act, an estate plan centered on long-term goals will serve you well. Read on to learn more. … [Read more...] about The Sky Isn’t Falling
Using Entities in Estate Planning
More and more families own property, assets, and businesses together. Using an entity to govern operations provides stability by allowing continued operation upon the death of an owner. When the governing agreement and estate planning documents of a deceased owner conflict, unintended, potentially litigious, results occur. Read on to learn more. … [Read more...] about Using Entities in Estate Planning
