Many people think that if they die while they are married, everything they own automatically goes to their spouse or children. They are thinking of state rules that apply if someone dies without leaving a will. In legal jargon, this is referred to as “intestate.” In that case, the specifics will vary depending on each […]
There are many tools that a qualified attorney can use to keep your assets out of probate – for example, establishing joint ownership on bank accounts and real estate titles, designating beneficiaries for life insurance policies and certain accounts, and so on. However, setting up a revocable living trust is quite often the best, most […]
In my previous post, I provided some information on the pros and cons of the probate process. The focus of this post is to explain in detail why you may want to avoid probate. When you pass away, your family may need to visit a probate court in order to claim their inheritance. This can […]
The word “probate” often comes with a negative connotation. However, the probate system was established to protect the property of the deceased and his/her heirs. In certain cases, the probate system may even work to an advantage. Below are the pros and cons of going through probate.
The Pros
For some estates, especially those in […]
