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You have probably heard the stories about what happens when a family member dies without doing any estate planning… and if you have not heard them, I could fill a book! The vacuum left by the death of a loved one sometimes leads to some strange and unfortunate...
The sign is a clue to what a recent article in the Trusts & Estate section of WealthManagement.com identifies as a trend away from estate planning and, therefore, toward more probating of estates. (The Shift from Estate Planning to Estate Probating) In other...
The title is a little misleading, of course. We are not going encourage 6 ways to fumble your estate planning. The idea, of course, is to avoid fumbling the ball. Following are 6 areas in which a little understanding will help people avoid some potential estate...
Other aspects of estate planning are more complex, but choosing a trustee is one of the more difficult decisions to make. People are encouraged to choose several trustees in order of succession, but sometimes choosing any trustees can be difficult in light of family...
People often confuse executors and trustees. Both roles are fundamental to estate planning, but the roles are distinctly different. Understanding the difference between is essential to estate planning. Simply put, executors are to Wills what trustees are to Trusts. An...
Benjamin Franklin famously remarked that “nothing can be said to be certain, except death and taxes.” In fact, sometimes death and taxes go together. The federal government and state governments impose estate taxes on the assets people own when they die. That is the...
Legal Q & A: Estate planning “My mother made me her agent on her health care power of attorney. Now my brother is showing me a power of attorney making him the agent. Is that legal?” It all depends on whether your mother, by her choice, executed a new power of...
I am often asked what a person should do with the original Will once it is signed. There is no right or wrong answer, but doing some things are better than others. The options should be considered in light of the family and personal dynamics and particular...
“Avoiding probate” is a buzz word that is often stated and sometimes confused. The probate process is often misunderstood, even by people who are sure it should be avoided. Wills do not “avoid probate”, and probate does not subject an estate to taxation, though both...
There is no such thing as an iPad Last Will App, but a judge in Ohio ruled recently that a Will written on a Samsung Galaxy Tablet, because no paper was allegedly available, is a valid Will. That ruling naturally raises the spectre of Will apps for iPhones, iPads,...