Losing a loved one is always difficult, and there are often additional challenges after someone’s passing when sorting through the decedent’s affairs. When someone dies, their assets are evaluated by the probate court so beneficiaries and outstanding debts are identified. The first document the probate courts request is a Last Will. In the case no … Continued
Estate planning is often overlooked by just about everyone. People go on with their lives without a plan for their future, and they live in the present moment. But there are only disadvantages to not planning ahead. Even celebrities will succumb to these consequences if they did not plan for their estate. Prince “Prince Rogers … Continued
Probate Sale refers to selling assets owned by the deceased to the public. Probate Process It is natural for a person to pass on their assets from one person to another. But, when a person passes away without transferring their assets, the Probate Court becomes involved. The Probate Court is identifies the people who … Continued
Protect Yourself Assets take a lifetime to accumulate but can be lost in an instant. We often see people who have worked hard all their lives lose some or all of their assets due to lawsuits, bankruptcy, creditors, family accidents, or other unfortunate circumstances. These risks are common, but that doesn’t mean they have to be yours if you take the right precautions. The Myth, The Legend, The Protection Asset protection aims to ensure … Continued
The Innocent Trust Fund Baby For a long time, many people believe that those born to wealthy families have it easy. That money is no longer a concern for them, and that they have trust funds to support their money problems. We may need to take a step-back to learn the basics of a Trust … Continued
Who is the Personal Representative? A personal representative is the person who represents the estate of a person who died without a Last Will, or intestate. The Probate Court has the duty to select the person best suited to take the responsibility. The descendants can not choose the person but they can nominate someone … Continued
Understanding Probate In order to differentiate between the types of assets which will undergo probate, and those which will not, it is imperative to understand what probate entails. Probate is a legal procedure that occurs when someone dies. The probate court will assess the decedent’s assets and proceed in accordance to the decedent’s Last Will, … Continued
Understanding Trust Funds Do you know what a Trust Fund is? If not, you are not alone. Many think of a Trust Fund as a tool accessible only for the rich. It serves as a complex financial tool to protect their wealth. Yes, Trust Funds can be useful for wealth preservation, but the truth is, … Continued
What is a Living Trust? One of the most popular tools in estate planning is a “Living Trust” due to its flexibility. When a grantor creates a living trust, they can transfer ownership over their assets into the trust. The trust will allow the grantor to take control of these assets even when the ownership … Continued