The process of estate planning involves the execution of legally binding documents. It is possible to purchase generic, template documents online. There are companies that sell last wills and other estate planning documents. Is DIY estate planning effective? Let's look at the facts. Choosing the Right Documents When you think about estate planning, you may assume that you should use a last will to state your final wishes regarding the distribution of your assets. It is possible that a last … [Read more...] about Is DIY Estate Planning Effective?
Free Report: Can Probate in California Be Avoided?
Probate provides certain protections, but it also comes with a number of drawbacks. Learn more about probate in California in this presentation. Topics covered in this white paper include: Public Access Probate Expenses Delayed Inheritances Probate Avoidance Conclusion Click here to read the whole article or download the PDF. … [Read more...] about Free Report: Can Probate in California Be Avoided?
What Are the Drawbacks of Probate?
What are the Drawbacks of Probate? from Roy W. Litherland If you are in direct personal possession of property when you die, the probate court will supervise the administration of your estate. … [Read more...] about What Are the Drawbacks of Probate?
What Is a Revocable Living Trust?
In this post we will look at a very commonly used estate planning device called a revocable living trust. These trusts can be useful for people of relatively ordinary means, and they are quite effective if you want to facilitate efficient asset transfers to your loved ones. Ongoing Control There are people who think that you surrender all control of assets that you convey into any type of trust. In fact, this is not the case with a revocable living trust. Look at the name of the trust: it is … [Read more...] about What Is a Revocable Living Trust?
Is Probate Always Required?
It can seem as though the utilization of a last will is the simplest and most efficient way to transfer assets. A trust can seem like something that is much more complicated. In fact, when you use a will, the heirs to the estate don't receive their inheritances until the estate has been probated. The probate court supervises the administration of the estate unless you take steps to avoid probate. There is a caveat to the above. In the state of California there are some probate shortcuts that … [Read more...] about Is Probate Always Required?
Why Should I Consider a Living Trust?
You have various different options when you are planning your estate. You can use a last will to record your final wishes regarding the transfer of your property, but it is not your only choice. Even if you are not wealthy, you may want to consider the creation of a revocable living trust as a vehicle of asset transfer. Probate Avoidance Probate is a legal process. When you use a last will to direct the transfer of your property, the will must be admitted to probate. During probate the court … [Read more...] about Why Should I Consider a Living Trust?
What Are the Drawbacks of Probate?
When you use a last will to record your final wishes, the executor or some other person close to you must admit the will to probate. Probate is a legal process that the estate must pass through before the heirs receive their inheritances. There are certain drawbacks that go along with the probate process. For this reason many people implement probate avoidance strategies. In this post we would like to look at three of the drawbacks of probate. Loss of Privacy The first drawback of … [Read more...] about What Are the Drawbacks of Probate?
Probate in Campbell California: How Long Does It Take?
In Campbell California, probate is a factor when you use a last will to state your final wishes regarding the transfer of property that you owned personally at the time of your death. The movie or television scenario that we have all seen that centers around the "reading of the will" is not accurate in real life. An attorney or executor does not read the will to the heirs and then start writing checks on the spot. In real life, the will must be admitted to probate. The heirs to the estate … [Read more...] about Probate in Campbell California: How Long Does It Take?
What Is a Transfer on Death Account in San Jose California?
When you get into the subject of estate planning, you will hear about probate avoidance. Those who use a last will to arrange for future asset transfers are setting the stage for a future probate proceeding. The heirs to the estate won't receive their inheritances until the estate has been probated and closed. There are various different drawbacks that go along with the probate process. In general, it is time-consuming, it can be expensive, and it is a public proceeding that strips your family … [Read more...] about What Is a Transfer on Death Account in San Jose California?
Probate in Campell California: How Much Does It Cost?
Probate is something to be aware of when you are engaged in the process of estate planning. Property that is in your personal possession when you die is considered to be probate property. As such, it is not immediately distributed to the heirs to the estate. The estate must first pass through a legal proceeding called probate. The probate court in the jurisdiction that is local to the decedent is going to supervise the administration of the estate. Why is there a probate process? Think about the … [Read more...] about Probate in Campell California: How Much Does It Cost?
