As I’ve discussed, in many states throughout the United States, there are two typical forms of estate administration: (1) formal and (2) informal. For this post, I want to discuss and informal probate proceeding. Caution: you should talk with an estate administration attorney in your state about these topics as the law in your state…
Category: Estate Planning
Estate Administration: How to Respond to Creditor Claims
Dealing with the probate estate can be a tough job for the personal representative. Perhaps the biggest reason why the job is so difficult is that the personal representative usually has never done it before. Furthermore, the personal representative is often a child or spouse of deceased loved one. Add all that up, and it’s…
Estate Planning: What is Probate?
Many clients have asked me: “what is probate”? My answer: it depends. As an qualified estate planning lawyer will tell you, on a basic level, the term probate is merely a court proceeding(s) in which a court wraps-up or concludes all the legal and financial matters of deceased person. Think about it: when somebody dies,…
Estate Planning: Gaining Knowledge About Your Estate Plan
If you are confused or have questions about your estate plan, you have come to the right place. I am an experienced estate planning lawyer with experience in drafting wills, trusts, and other estate planning documents. The initial purpose of this blog was to serve as an outlet of the knowledge I have gained as…
Estate Planning: Working with Your Lawyer
When conducting proper estate planning, you need to make sure that you are comfortable with your estate planning lawyer. Picking an attorney can be difficult. Often, people will decide on a lawyer based on recommendations or referrals from friends and family. This is often a great way to ensure that you are able to locate…
Estate Planning: Drafting a Will with Witnesses Present
In most states, witnesses must be present when the person making the Will reviews and signs the document. This seems simple, right? Additionally, in most states, anywhere from two to three witness must be present with the Will maker when it is signed. A good estate planning attorney will explain this. Again, simple. However, many…
Estate Planning: Changes in Medicaid Law May Affect Estate Plans
Recent changes in federal and state legislation may have affect on your estate or retirement planning. New legislation is being issued in many states across the country which allows a court to seize new assets for purposes of medicaid recovery. Now, a state may be able to recover medicaid related health-care costs from a person’s joint bank…
Estate Planning Advice | Put Your Will in a Trust
As I discussed in a prior post, many people are not aware of the common differences between a Will and a Trust. This post offers a discussion of what is known as the “Pour-Over Will.” The Pour-Over Will is a document that acts as a typical Last Will and Testament in many respects with one…
Estate Planning | New Marriages Can Mean Disinheriting Your Children
Helen Morris at the Times Colonist had an interesting article this morning about the potential dangers of new marriages causing disinheritance of children. As she does a nice job discussing, new marriages can have a significant effect on how money and other assets are passed when a person dies. Often, people who fail to conduct proper estate planning can be surprised on what…
Estate Planning | Managing the Estate Assets Responsibly
Estate and retirement planning takes work. Any estate planning lawyer knows this and will explain it to his clients. One of the key aspects of estate planning is thinking about how to manage estate assets in a responsible manner. The laws in many states provide that a Personal Representative has clearly laid-out duties and responsibilities. Foremost,…