If you were to use a will to express your final wishes with regard to your asset distribution choices, you would name an executor in the document. This person or entity would not be able to act independently. The will would be admitted to probate, and the court would provide supervision during the administration process. During probate, final debts are paid, including taxes. The court examines the will to determine its validity, and if anyone wants to issue a challenge, they could make their … [Read more...] about What Are the Drawbacks of Probate?
People often times shy away from things that they don't understand, and this certainly contributes to the fact that many individuals are going through life without an estate plan. With this in mind, we would like to respond to some common questions about last wills. What can a will accomplish? The first thing that may come to your mind when you think about a last will is that it can facilitate the transfer of your financial assets after you pass away. This is true, but there are some other … [Read more...] about Responses to Common Questions About Last Wills