Managing real estate in multiple states can complicate probate. However, with the right estate plan, you can help your family avoid the extra time, cost and stress.
Managing out-of-state property in probate often adds complexity and cost. However, you can avoid these problems by using the strategic tools like trusts.
When planning your estate rarely will you experience difficulty naming your initial beneficiary or beneficiaries for your will, IRA’s or life insurance.
However, settling the second spouse's affairs was more complex, even with advance planning. Everything from wills to banking to tax returns became more complicated.
First, debts in a person’s estate are payable from the decedent’s assets in the course of administering their probate estate or administering their living trust estate.
A primary benefit of using TOD/POD designations is that assets held in the account will pass automatically to the beneficiary without having to go through probate.
“It is a common misconception that once the estate plan is prepared and executed, it does not require any further attention.” When someone dies without having updated their estate plan for many years, the executors often face a difficult task of administering a disorganized and incomplete estate. At best, the executor needs additional time and […]
