What Is Probate?

One of the most challenging aspects of losing a loved one is the complicated legal proceedings that follow. Probate is the legal process of administering an individual’s estate after their death. Depending on what type of end-of-life plans the deceased had in place at the time of their death, probate can be a very straightforward process of ensuring the validity of these plans or a complex affair of sorting out intestate succession laws as they apply to the deceased’s estate. Having a will, living trust, or estate plan in place can significantly reduce the time and stress required of probate proceedings. These end-of-life documents are valuable for limiting a loved one’s uncertainty after one’s death. Do You Need an Attorney to Go Through Probate? Legal representation is good to have in any probate case, regardless of whether the deceased had a will or other estate plan in place. A good [...]

By |December 28th, 2020|

3 Simple Ways to Avoid Probate

The probate process is notoriously taxing for any family that must experience it. The goal of probate is to settle the affairs of a deceased individual legally, meaning determining ownership rights over their remaining property as well as responsibility for their remaining debts. Probate occurs when the deceased did not have a formal plan in place for handling their end-of-life affairs. If you are making your plans for the future and want to spare your loved ones the difficulty and stress of the probate process, there are a few steps you can take to reduce uncertainty and ensure your legacy unfolds according to your wishes. An estate planning attorney can help you explore your options for helping your family avoid probate. Create a Revocable Trust A trust is a special legal document that officially transfers ownership rights of the property and assets listed in the trust to a trustee. This [...]

By |October 7th, 2020|

A Simple Guide for Family Business Succession Planning

Running a successful family business can be incredibly rewarding, but it also requires an extraordinary amount of hard work, sacrifice, and careful planning. One of the most difficult decisions any family business owner will eventually need to make is how to handle the business once they’re gone. Family business succession planning is a difficult aspect of running a business because it forces business owners to think objectively about the future but without any real context. The 2016 PWC U.S. Family Business Survey revealed that succession planning is a common pain point for family business owners across the United States. The issues most family business owners have with this concept is lack of planning. While about 70% of all family business owners report that they expect their businesses to pass down to the next generations of their families, only 23% have a detailed and actionable plan for ensuring this succession occurs. [...]

By |June 5th, 2020|

Living Trust vs. Will: Which One Do You Need?

You’ve worked hard for your money and property over your lifetime, and you want to be sure it’s in good hands after your death. To guarantee this, you may want to create a living trust or a will—or both. Learn more about the differences and how to choose below. WHAT IS A LIVING TRUST? In short, a trust is a legal document that lists exactly what you want done with your property when you die or become incapacitated. A living trust is a trust that can be set up at any time, changed at any time, and revoked at any time (which is why it’s also known as a revocable trust). A living trust will include the name of a trustee, who is the person responsible for managing any property in the trust. WHAT IS A WILL? A last will and testament, or a will, is a legal document that lists [...]

By |April 14th, 2020|



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