When to Remove a Personal Representative?
Probate and estate administration is a body of laws and concepts covering what happens when someone dies, either with or without a will. Almost all US states have adopted the Uniform Probate Code (UPC) or at least some of its provisions, so it is useful as a resource when providing an overview. The process of […]
Four Things to Know About Creditor Claims in Probate
Many people operate under the misconception that debts will go away when they die, but that may not be true in all circumstances. The Consumer Financial Protection Bureau clarifies that the legal and financial obligations of a decedent shift to the estate upon death, in the same way that probate assets become part of the […]
Four Things to Know About Testamentary Trusts
There are multiple types of trusts that individuals may consider as part of a comprehensive estate plan, and the variations among them mean you have great flexibility in creating an arrangement that suits your needs. One option is a testamentary trust, defined by the American Bar Association (ABA) as a structure that is established in […]
Overview of Will Contests in Probate Proceedings
Your will is the cornerstone of your estate plan and, though there are other components, this document is one of the most important ways to protect your legacy at death. You are able to take advantage of a wide array of benefits when preparing a will, but the overall plus is that you save time […]
Electronic Wills and Powers of Attorney: The Future of Estate Planning
At a time when it seems everything is going electronic, virtual, or both, it may not come as a surprise that the phenomenon has carried over into the area of estate planning. Just a few years back, it would not even be possible to create an electronic will, powers of attorney, or advance directives. However, […]
Estate of Chadwick Boseman: Avoid Intestacy and Uncertainty With a Will
Fans, fellow actors, and countless others in the entertainment world were deeply saddened when the talented Chadwick Boseman passed away from colon cancer in 2020 at just 43 years old. According to an NBC News report, many were shocked by his death because he had hidden his condition from the public while fighting the cancer […]
Four Things to Know About Supported Decision Making Agreements
For many people with developmental disabilities, the elderly, and individuals with cognitive disorders, the only option for managing everyday life is guardianship. Through this legal process, the court appoints someone to handle the financial and personal affairs for someone who is unable to make responsible decisions in these areas. According to AARP estimates, there are […]
What Assets Do Not Go Through Probate When a Person Dies?
Whether you are dealing with the final affairs of someone who recently passed or are considering estate planning options, you will need to understand the basics of probate. The definition of probate, also called estate administration, is the process by which a person’s final affairs are legally wrapped up after his or her death. Probate […]
Three Reasons to Consider an Irrevocable Trust in Florida Estate Planning
The terminology itself is useful for understanding irrevocable trusts, but it is also helpful to appreciate a few details. These structures still involve the same parties under Florida laws governing trusts, including the grantor who creates it, the trustee who handles management, and beneficiaries who receive distributions. However, the definition of an irrevocable trust means […]
Estate Planning for Women and Retirement
Beyonce said it best when she told us “Girls run the world.” This statement is true in many ways! Research shows that women are earning more than ever before, heading households, and are living longer with an estimated life expectancy of 81. So, how should women prudently plan as you prepare for retirement? Imagine you […]
