You may know more or less what you want to accomplish when you start planning your estate, but there are so many facets to consider it can be difficult to compartmentalize these objectives. Here are three useful estate planning vehicles that can be used to provide a foundation to work with as you proceed. Living Will A living will is a commonly executed advance health care directive, and it is used to allow people to state their preferences regarding the types of medical procedures they will … [Read more...] about Wills, Elder Law, & Advance Planning
Wills and Trusts
Estate planning involves the distribution of your financial assets to your heirs upon your death, and many people assume that the way this is done is through a will. Though it is true that wills are often used to define the terms of asset distribution, there are other vehicles for transferring assets that have a lot of appeal to many people. One of them is the revocable living trust. When you are planning your estate you invariably want to make things simple for your loved ones after you pass … [Read more...] about What Are Revocable Living Trusts?
When you look at an overview of the financial realities that we all face throughout our lives, you immediately notice how everything is connected. Depending on the extent of your assets, you are probably going to have to plan for your retirement years before you consider how to plan your estate. And how prepared you are to address the financial realities of retirement is going to have everything to do with the value of your estate when you pass on, so it is clear that estate planning and … [Read more...] about Retirement Planning: The Sooner The Better
When an estate goes through the process of probate there are many details that need to be addressed, and just how complex the matter is depends on the specifics of the estate in question. The probate or surrogate court proceeding requires the filing of a great deal of standard paperwork, and making sure that this is done and done correctly is the first step. There can also be matters of guardianship or conservatorship involving fiduciaries that need to be addressed. Any outstanding debt must be … [Read more...] about Consult With A Probate Lawyer
Not Properly Signed The most common grounds for a Will contest is if an heir at law or previous beneficiary believes or can prove that the Last Will and Testament was not signed according to state law. Your attorney will know what the state law requires including: who can be a witness, who must be present and how the signatures must be notarized. If all state laws for signing a Will are not followed, that document can be considered invalid. Lack of Testamentary Capacity If it is believed … [Read more...] about Four Reasons to Contest a Loved One’s Will