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When you are the recipient of an estate in a probate procedure, there is a lot of paperwork and court-related activities involved. The process, which normally takes a few months, culminates when the fiduciary files this last piece of paperwork: the final account. According to the Connecticut Probate Court's Guidelines for Administration of ...
Continue reading "Probate Procedure: Fiduciaries and Filing the Final Account" »
If you are parent with children under 18, then you need to plan for their future. You will want to establish a stable home that your children would be safe in in the event that you cannot take care of them any longer. Mothers and fathers often forget the possibility that they could pass away before their children are old enough to care for ...
Continue reading "Choosing a Personal Guardian" »
When you pass away, the fate of your estate goes on the line. Your estate is everything you own, from your cars to your property to your life insurance and retirement plans. It includes everything from a diamond earring to a couch, as well as all clothing, pets, appliances, businesses, and more. When you die, you want to make sure that all of these ...
Continue reading "Probate and Charitable Donations" »
Boots, an 11-year-old black cat, almost lost her life last week when she was sentenced to death in her owner's will. The feline was property of an elderly woman who died at age 76. This lady left Boots' in her Berwyn home when she moved to Burbank to live at a nursing facility. Her neighbors had taken up the responsibility to feed the ...
Continue reading "Pets and Probate: Boots' Story" »
Planning ahead is always wise, especially when it involves the future of your estate. A living trust is a practical way to prepare for your passing and make sure your possessions are divided how you desire. A living trust is a will that is created while you are alive. In this arrangement one person holds the legal title to another person's ...
Continue reading "Let's Talk About Living Trusts" »
Last July, the America was shocked and saddened by the death of the famous singer Amy Winehouse. The 27-year-old passed away from an accidental alcohol poisoning in her home in London. When she passed away, reports told the public that she had a will which had been updated after her divorce. Probate records contradict these statements, saying that ...
Continue reading "Celebrities and Probate: Amy Winehouse's Estate" »
American Indians have a unique heritage within the United States. These tribes are loyal to their descendants and take great pride in their family relations. According to the 2004 Probate Reform Act, a part of the Indian Land Consolidation Act, there are special provisions for American Indian tribes when it comes to probate. Federal law states that ...
Continue reading "All About Tribal Probate" »
Whitney Houston's untimely death on February 11 th 2012 came as a shock to the world. Singers mourned the stars' passing at the Grammy's the following Sunday, and news stations quickly pieced together lengthy memorial programs on her life and legacy in the music world. Though the star's death was unexpected, she was well prepared ...
Continue reading "Whitney Houston's Daughter Inherits All" »
While probate is normally the best way to divide a decedent's estate, there are other ways to handle assets without going through this process. One option is called a death deed transfer. This method is allowed in at least sixteen states: Arizona, Arkansas, Kansas, Colorado, Hawaii, Illinois, Missouri, Minnesota, Montana, Nevada, New Mexico, ...
Continue reading "An Alternative to Probate: Death Deed Transfers" »
When people think of probate, most often they associate the term with decedent's estates, trust proceedings, guardian proceedings, and more. Yet probate courts work with a variety of cases. One of these is civil commitments. In these cases, a probate judge determines whether or not a person suffering from a mental illness should be placed in a ...
Continue reading "Probate and Mental Health Cases" »
In Alabama, the government is currently considering a bill which would require all judges in the state to be licensed probate lawyers. The bill, sponsored by The Mobile Republican, the House Speaker Pro Tempora, and politicians, could ensure that all probate judges were well versed in the law by requiring them to complete all bar exams and law ...
Continue reading "Probate Judge and Lawyer? An Alabama Proposal" »
If you are looking to probate a small estate, there is often a simple way to complete the task. Probate laws vary greatly from state to state, but most state governments have provided easier avenues for small estate inheritances. This allows these men and women to bypass the complicated estate division of a traditional probate. In some states this ...
Continue reading "Probate and Your Small Estate" »
Have you made a Last Will and Testament in order to distribute your property fairly among your family? It is important to explore the possible options that a will can provide. It is also important to look at the possibility that your will could be contested by various other parties. Therefore, it is imperative to understand the details of who ...
Continue reading "Probate Cases: Last Will and Testament" »
When an individual passes away, their property and assets will have to be distributed. However, before this can happen, the estate must be administered. This includes tasks like ascertaining the worth of the estate as well as paying any debts and estate taxes. An estate is simply all the assets owned by a person, including their houses, buildings, ...
Continue reading "What is Estate Administration?" »
What is probate? Why is it beneficial to avoid it? Can Roth IRAs make probate unnecessary? When considering estate administration, wills, trusts, and estate executors, there are many questions and concerns that may arise. Having all the information regarding your situation is crucial, as is consulting with a legal professional with experience and ...
Continue reading "Looking Out For Your Family: Roth IRA & Probate" »
When property is transferred from the ownership one individual to another, the government imposes property taxes. This can occur at death when someone inherits the estate or it can occur while the owner is still alive but transfers property as a gift. An individual's estate is their net worth at any specific time. It includes any real estate ...
Continue reading "The Truth About Estate Tax & How to Avoid It" »
It is understandable for people to avoid thinking about the future and what will happen to their property after they die. However, it is in the best interests of the estate owner as well as their survivors to prepare for the future. One estate-planning tool that accomplishes this is a trust. A trust can supplement a will, or it can completely ...
Continue reading "Creating a Trust: Is it Necessary?" »
In order for a person's wishes to be upheld after they pass away, it is important to create a legally binding document regarding the estate. While some choose to create trust, wills are more common. For those considering creating a will, there are some key elements to remember before you begin. Although it is important for every adult to ...
Continue reading "Will FAQ" »
It all started when the 91 year old J. Howard Marshall was on his deathbed: his young wife, Anna Nicole Smith filed a suit in Texas against his son, E. Pierce Marshall for intruding with her statuary support. Allegedly, CNN claims J. Howard Marshall met Anna Nicole Smith when she was a stripper a year or two earlier- they were married by the time ...
Continue reading "The Probate Case of Anna Nicole Smith vs. E. Pierce Marshall" »
The process of probate takes place after the death of an individual and can go on for up to a year. No one wants their loved ones to go through this expensive and lengthy process and therefore people are looking for ways to avoid it. By creating a will or setting up a trust, conflict and hassle can be minimized for your family and friends. You may ...
Continue reading "Understanding Wills & Trusts" »
Last month, an audit of Colorado's probate courts uncovered shocking discoveries of the court's failure to lawfully enact the policies necessary to regulate laws regarding matters of probate, guardianship and conservatorship. No one was exempt from the faulty management that occurred in Colorado, as adults and children were all among those ...
Continue reading "Trust a Probate Attorney, Not the Courts!" »
Throughout the nation, there has been an increasing focus on the importance of looking into appointing a power of attorney (POA) as an essential cornerstone to estate planning. This simply means that the principal (also known as the donor of the power) appoints someone known as the agent, to represent themselves in private and business affairs. ...
Continue reading "The Importance and Dangers of Appointing a Power of Attorney" »
Probate, by nature, is not a simple process. The legal process of dividing assets per wills and state law is lengthy and can be considerably costly. In even the simplest of cases, this is a process that can extend for months and should the process have extenuating factors, such as a high net worth, it can become bitterly contested and can spread ...
Continue reading "How Do Missing Heirs Affect a Probate Case?" »
In 1990, Tom Carvel, the inventor of soft serve ice cream, passed away. With over 850 franchises throughout the nation, his empire was worth almost $80 million – a fact that his beneficiaries were not quick to forget. Following his death, it was discovered that he had a will in place between himself and his wife, Agnes, for all of the money ...
Continue reading "Explaining Probate Law and How it Affects You" »
Probate is a legal process that immediately begins upon the death of a family member or loved one. It is the process in which the property and assets are divided among the government, creditors and the beneficiaries. The main concern for many people is the timeline that is associated with this process. Depending on the circumstances of the death ...
Continue reading "Avoiding Probate: Being Proactive in Estate Planning" »
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