The idea that wills are only necessary for older individuals is a common misconception. Citizens under a certain age tend to believe they can put off having such a document until later. However, there are compelling reasons why younger persons should have a will....
Estate Planning
What topics can I address in my living will?
Due to the disabling effects of an illness or the infirmities of old age, you may become incapacitated and no longer able to communicate your medical preferences to family and doctors. Through a living will, you may avoid losing control over your care. A living will...
What are the tax-related responsibilities of an estate executor?
The Tax Foundation reported the average payment for federal estate taxes in 2021 was $30.5 million. While most estates will not be large enough to require payment of that type of tax, there are still tax responsibilities the executor must handle. The executor must...
How can you notice manipulation from others while writing a will?
In the emotionally charged process of writing a will, it is important to maintain a clear head. This legal document outlines the distribution of your assets, making it a target for those with ulterior motives. Whether it is family dynamics or external influences,...
How to defend a will during probate
Probate proceedings can be daunting even at the best of times. This is especially the case when it comes to defending the will against an interested party's challenge. Whether you are an executor, beneficiary or other concerned party, the time may come when you need...
What makes probate become a longer process?
Probate is the legal process through which people settle a deceased person's estate. In recent times, there has been a noticeable increase in the duration of probate proceedings. This extended timeline comes from multiple factors. Complex structures One of the primary...
What are some common misconceptions about executors?
When it comes to estate planning, executors play an important role by passing out assets and fulfilling the last wishes after an individual dies. However, several misconceptions surround this position, leading to confusion and potential complications. Debunking some...
How can someone craft a spendthrift trust?
The years of accumulating your savings may give you satisfaction since you know your children will inherit your money someday. However, you might have reasons for one or more of your loved ones to not get their inheritance all at once. Sometimes adult children get...
When may a court reopen probate?
Closing out the estate of a deceased loved one and completing probate can help the surviving family members receive closure. This is why many families do their best to make probate as quick as possible. However, sometimes a court will reopen an estate and resume...
When should you update your will?
A will is likely the foundational element of your estate plan. When you created your estate plan, you probably put together a will before moving on to other documents. According to the CDC Foundation, a will is a legal document that lets you designate how you want to...