People who utilize a last will to elucidate their final wishes will be subjecting their heirs to the process of probate. This can create significant delays with regard to the distribution of assets, and there could be some considerable costs incurred during the probate process as well. Because of these and other reasons, probate avoidance strategies are often implemented. One way to arrange for the distribution of assets to your family members outside of the process of probate would be to … [Read more...] about Something to Consider When Executing a Revocable Living Trust
Consumer Reports: Don’t Try This at Home
There is much to consider when you are preparing yourself for the eventualities of aging. Serious minded individuals who want to leave nothing to chance are going to want to discuss all the details with a licensed estate planning professional. If you make uninformed assumptions and look for overly simplistic solutions, your family may wind up paying the price someday. With the above in mind, you may have come across advertising campaigns that want you to believe that anyone can execute last … [Read more...] about Consumer Reports: Don’t Try This at Home
Estate Administration: Careful Decisions Required
When you see websites offering do-it-yourself estate planning kits, they tell you that it's as easy as filling in the blanks. An estate plan is just a bunch of paper. You fill in the fields (that may or may not address all of your interests), stick the papers in a lock box somewhere, and the matter is handled. Why make it harder than it really is? In reality, there is a lot at stake, each case is different, and there are variables to take into consideration. DIY estate planning shortcuts are … [Read more...] about Estate Administration: Careful Decisions Required
Final Affairs Can Be Matter of Public Record
There are multiple ways to arrange for asset transfers to take place after you pass away. The two most common methods would be the creation of a last will or revocable living trust. A revocable living trust may sound imposing, a vehicle that is only used by the rich. However, the truth is that these vehicles can be used to great advantage by people who would describe themselves as middle class. Indeed, it would be wise to discuss your unique situation with a San Jose estate planning lawyer … [Read more...] about Final Affairs Can Be Matter of Public Record
Have Your Will Prepared by a Professional
People sometimes procrastinate, continuing to postpone something that they know they need. If you were to do this, the suggestion that the matter in question could be resolved with the click of a computer mouse could be an attractive one. However, when you hear about an offer that sounds too good to be true, you may want to take pause because it is unlikely that anyone has figured out a way to reinvent the wheel. This perspective is quite relevant with regard to the entities who want you to … [Read more...] about Have Your Will Prepared by a Professional
Lesser Known Will Can Add To Your Legacy
When you consider what a Will is intended to accomplish in an estate planning context, you are probably going to immediately think about the transfer of assets to your loved ones after you pass away. This is indeed what a Last Will and Testament can achieve, but there are other types of wills used in estate planning as well. One of these is called a Living Will. This type of will has nothing to do with the transfer of assets. With a Living Will, you express your wishes regarding certain medical … [Read more...] about Lesser Known Will Can Add To Your Legacy
