There is no federal law of probate or estate administration. That isn’t to say that federal law doesn’t play a role. It does – mainly in the form of estate taxation. However, the laws related to how a probate estate is administered are enacted by the states. Every state has slightly different laws related to how…
Probate Law: What Must be Included in the Petition for Probate of Will and Appointment of Personal Representative?
If you have been appointed as the personal representative in a loved one’s Will and you have hired an estate lawyer, in most states, you will need to file a formal legal document, often called something similar to a “Petition for Probate of Will and Appointment of Personal Representative.” Although the law changes from state-to-state…
Estate Planning | Retirement Plans in Trouble as People Struggle to Pay Down Debt
Ok. I know the economy stinks. Not only does it stink in the United States, but it stinks throughout the world. An article out of the U.K. demonstrates the point as author Sion Barry writes in Wales Online that people are not thinking about their retirements plans. Instead, they are worried about debt. Mr. Barry makes…
Estate Administration | Beginning an Informal Estate Administration Proceeding
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…
Estate Planning: Formal and Informal Estate Administration
Although the law is different in every state, and you should talk to your estate administration lawyer in your state about the process, it is true that many states of two, basic kind of estate administration procedures: (1) formal and (2) informal. What is the difference between formal and informal estate administration? I will apologize…
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…
Retirement Planning: Do You Need Help With Your 401(k)?
Take a look at this interesting article by Smart Money where the the author discusses a survey stating that many Americans are not seeking help with managing and understanding their 401(k)s. I can relate to the sentiment and I probably would have answered the survey in a similar fashion as many of the survey takers….