Common Myths About the Probate Process

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Common Myths About the Probate Process

The average person is not likely to be well versed in estate planning law, so it should come as no surprise that there are a variety of myths that surround the estate planning and probate process. Here are just a few of these most common probate-related myths and the truths behind them. MYTH: The probate […]

Important Tips for a Personal Representative

Have you been selected as the personal representative of someone’s estate? Here are some tips to help you handle the job effectively. Get copies of the death certificate ASAP: As soon as you’re able, get copies of the death certificate. You’re going to need them if you are responsible for making funeral and burial arrangements, […]

Gifts That Could Raise Red Flags at the IRS

The IRS is, among other things, tasked with finding estate planning strategies that violate tax laws. Many of the circumstances that get people in trouble with the IRS through their estate planning involve illegal gifts. Here are just a few examples of some gifts that might cause the IRS to pay you some special attention. […]

For Which Debts Will Your Estate Be Responsible?

After you pass away, your estate will still be responsible for settling some of your debts. Here’s a quick overview of what you can expect to happen to some of these common debts and which ones will take priority: Mortgage: Mortgage loans must be paid. In most cases, the beneficiary whom you named to receive […]

Why Having Children Makes Estate Planning Even More Important

Everyone should make estate planning a priority, but having a will in place becomes especially important when you have children. Here are just a few of the reasons why having children should encourage you to expedite your estate planning: You can (and should) arrange guardians: Your will enables you to choose whom you want to […]

Options for Donating to Charity Via Your Estate Plan

If you’re interested in using your estate plan to leave behind money to a charity or cause of your choice, there are several ways you can accomplish this. Here is a quick overview of a few of them. Charitable trusts You can name a charity as a beneficiary of a simple revocable or irrevocable trust. […]

How to Handle Pets in an Estate Plan

If you have pets, you may be wondering how you can account for them in your estate plan to make sure they’re properly taken care of in the event of your death. You cannot leave any property behind to your pets, because pets cannot legally own property. However, there are ways you can use your […]

Estate Planning Tips for Small Business Owners

Small business owners have some additional complications to consider when planning their estates, especially if they wish to ensure a smooth transition in the company upon their passing. Here’s a quick overview of the steps business owners should take to set their company up for success after their death. Start with the basics: Begin with […]

What is an Oral Will and Why Should I Not Use One?

An oral will is most commonly used if a person is too sick or otherwise incapable of writing a traditional will. In using an oral will, the testator (that being the person who makes the will) states his or her wishes aloud in the presence of witnesses, rather than following the formal process of writing […]

How Frequently Should You Review Estate Planning Documents?

Just because you’ve completed your will signing and secured all your estate planning documents does not mean your estate planning process is over. It is important to revisit these documents periodically to make sure they still apply to your current situation and wishes. Reviewing your estate plan A good general rule is to either review […]