What is Estate planning? Estate planning is deciding who will get your assets, estate, and personal belongings upon death. This includes deciding how much of
Introduction Imagine leaving all your wealth and money to your child or spouse and the creditors coming in and taking everything and leaving them nothing.
As the name suggests estate planning is basically a plan to deal with your estate. Estate planning is an essential tool to manage your assets
What is Trust? A trust is a legal arrangement governing the transfer of assets from an owner known as the grantor or trustee. They set
When someone passes away, you fill out a will and start the probate process if you execute the probate process. However, what happens if there
Estate plans are very different and vary based on the individuals who make them. When making an estate plan, every person is different and so
What does ‘to probate’ mean? The conceding of probate is the most vital phase in the lawful course of overseeing the home of a departed
Introduction Wills by lawyers are usually best. But wills created and signed without the help of a lawyer will not be automatically invalidated. To be
A durable power of attorney is one of the most crucial documents that every person after eighteen should consider. A power of attorney has primarily
What happens in the absence of a will? Even if your loved one hadn’t left a will, their assets still need to pass through the
Creating an estate plan entails deciding who will ultimately inherit your assets if you cannot manage your affairs independently. It also specifies how you want
As you get older, having a secure estate plan is essential to know your property and family will be taken care of when you are
Instead of the trust itself paying the tax, beneficiaries of trusts often do so on the distributions they get from the trust’s revenue. Nevertheless, as
What is trust? A trust is an estate planning tool that minimizes the estate and inheritance tax and saves your assets from probate; in a
Introduction A will is an important document that designates who will be in charge of your estate and belongings in the event of your death.
Handling the will of a deceased person is a complicated process. However, an experienced probate lawyer can help the family members with the probate process.
A Health care proxy or healthcare surrogate makes medical decisions on your behalf. A healthcare proxy will make sure the doctors follow your wishes. It
Government gift tax Almost anything you own can be given as a gift. In addition, the IRS permits you to donate up to a specified
Estate planning is not just for Wealth. Even though we usually associate the word “estate” with the extremely wealthy. Everyone can gain from having an
An inheritance tax (IHT) is imposed on property that has been gifted or inherited. Even though IHT is charged upon death, it may also be
Understanding the probate lawyer: A probate lawyer is a state-licensed attorney who works with the executors and the beneficiaries of an estate to settle the
Who is a probate lawyer? A state-licensed attorney who assists the beneficiaries and executors of an estate in settling the decedent’s affairs is known as
Probate is the judicial process whereby a will is “proved” in a court of law and accepted as a valid public document that is the
Estate attorneys and probate lawyers assist non-lawyer clients in carrying out their duties as executors, personal representatives, or administrators of estates. As they navigate the
Each state has laws governed by procedures for creating, canceling, and providing the last wills and testaments. A testator, who creates a choice, typically has
There is no life expiration of the valid wills. But then, what happens when the probate attorney discovers the Will after the probate? Then, the
Introduction If your loved one dies in another state, you may wonder if you need to hire a probate lawyer to help settle their property.
An executor who does not report theft from an estate before inventory commits theft by stealing property from it before inventory is conducted. According to
Introduction Multiple wills may have been drafted and changed by your loved one. At the same time, they were still living in response to significant
Will is a legal document that intends to declare how one wants their personal belongings, properties, and assets to be distributed and to whom after
