Tag: will
What Steps Should Beneficiaries Take During Probate Litigation?
Posted on June 20, 2024
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When a person passes away, her assets are distributed to her heirs through the probate process. During this process, beneficiaries may become concerned about the proceedings, and may need to take legal action to address certain issues. Sometimes this results in allegations of misconduct by the executor of the estate, or a beneficiary who disputes the validity of a will that was filed in probate court. Probate litigation may be necessary to protect the rights of beneficiaries or address other legal issues. The probate litigation process can be complex, but […]
6 Steps to Follow When Updating Your Estate Plan
Posted on June 6, 2024
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Planning for the future is important for everyone, and estate planning can ensure that your and your loved ones’ needs will be properly addressed in the years to come. A comprehensive estate plan can ensure that your assets are distributed according to your wishes, and it can provide peace of mind for your entire family. However, as life changes, your estate plan should change too. Understanding the steps for updating your estate plan is essential for ensuring that it will reflect your current circumstances while honoring your wishes. An experienced […]
How Should an Estate Plan Be Updated After a Divorce?
Posted on May 28, 2024
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A divorce can upend the lives of spouses and multiple other family members. The end of a marriage will require multiple types of financial changes as each spouse determines how to address their needs on a single income. In addition, it is essential to update estate planning documents to ensure that they reflect the new circumstances of different family members. An experienced attorney can help navigate the complexities of estate planning post-divorce. The Importance of Updating Your Estate Plan Following a divorce, many aspects of a person’s life change, and […]
What Role Do Trusts Play in Legacy Planning?
Posted on May 24, 2024
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While planning for the future is essential for anyone, it can be especially important for people and families with a high net worth. Legacy planning can ensure that loved ones are taken care of and that a person’s assets will be distributed according to the person’s wishes, while also upholding the person’s values, promoting causes he or she believes in, and establishing a positive framework that a family can continue to follow. Trusts are a powerful tool in legacy planning, providing flexibility, control, and tax benefits that can help a […]
6 Common Mistakes to Avoid When Creating a Special Needs Trust
Posted on April 10, 2024
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Creating a special needs trust is a critical step for families that are looking to protect the financial well-being of a loved one with disabilities and ensure that the person’s needs will be provided for. These trusts are designed to provide supplemental support without jeopardizing the beneficiary’s eligibility for government benefits like Medicaid or Supplemental Security Income (SSI). However, the process of establishing a special needs trust is fraught with complexities, and missteps can have significant repercussions. By being aware of the common pitfalls that may arise and working with […]
Why it Is Important to Update Your Estate Plan Regularly
Posted on March 26, 2024
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Whether you own complex assets or simply need to make sure your affairs are in order, an estate plan is crucial for your peace of mind. It is important to take steps to ensure that your assets will be distributed according to your wishes, and your estate plan can also make sure your property and finances will be managed correctly. However, creating an estate plan is not a one-time task—it requires regular updates to remain effective, especially for those with a high net worth. An experienced attorney can provide invaluable […]
What Are the Options for Asset Protection in an Estate Plan?
Posted on September 14, 2023
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An estate plan is a crucial tool that allows people to protect their assets and distribute their property according to their wishes after they pass away. However, when you create an estate plan, you will not just be concerned about distributing your assets. You will also want to take steps to protect your assets during your lifetime. Asset protection is an essential aspect of a comprehensive estate plan, especially especially for those who have complex estates. By working with an experienced attorney, you can take steps to safeguard your hard-earned […]
Six Signs it is Time to Update Your Will
Posted on June 2, 2023
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Your last will and testament is the foundation of your estate plan. Your will explains how your property should be distributed to beneficiaries, designates a guardian for minor children, and describes your final wishes. It can be thought of as an instruction manual in probate showing how you want your assets to be distributed. Creating a will is essential. However, it is not a one-and-done task. Many different life changes and circumstances will necessitate an update of your will and other estate planning documents. In this blog, we will explain […]
Unmarried? Make Sure You Understand How This Influences Inheritance Rights and Estate Planning
Posted on May 8, 2023
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Did you know that less than half of adults in the United States are married? Over the past few decades, marriage rates have dropped significantly. Fewer and fewer people are choosing to get married, and living with a romantic partner to whom you are not married is becoming increasingly frequent. For many couples, waiting to say “I do” is the smart choice. Nobody should rush into a marriage unless they are truly ready to marry. That being said, unmarried couples should understand the risks involved in foregoing an official marriage […]
Understanding Testamentary Capacity in the Context of Estate Planning
Posted on April 28, 2023
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Anyone who signs a legal contract must do so of their own free will. An individual cannot be forced, manipulated, or tricked into signing a contract. These rules also apply to estate planning documents such as wills and trusts. Testamentary capacity refers to a person’s ability to create and agree to a valid will. An individual must be of sound mind to create a will that holds up against a will contest. Whether you are planning to create your will or you have concerns about the validity of a deceased […]