Probate, Real Estate, and You

  Probate, Real Estate, and You How to Avoid the Biggest Mistakes of Probate Did you know 95% of folks do not have a fully vested trust in place that will keep their estate our of probate once they have passed?  By the way, a lot of famous people's estate have had to go through Probate, such as Michael Jackson and Steve Jobs.  Although, I am not an attorney, I work with many probate … [Read more...]

What happens if a will cannot be found?

In this blog from US Probate Services, they talk about missing wills.  It's always good to leave a copy of your will  in a safe.   I have clients that give a copy to a family member or friend to keep in their safe.  This is a good idea because of theft or fire as well.  It's always important to speak with your Attorney to ask them, what they recommend.  Missing Wills raise all sorts of … [Read more...]

Estate planning checklist for young folks

The last thing on the minds of young adults heading off to college is drafting a health care proxy and power of attorney. Once they emerge freshly educated four years later, visions of wills and trusts are also unlikely to be on their radar. After all, who thinks about ticking off items on an estate planning checklist while they're still in the throes of figuring out how they're going to pay off … [Read more...]

What if the decedent owned land in more than one state?

The laws of the state in which the deceased was a permanent resident or “domiciliary” govern who would receive all the deceased’s personal property, wherever it was located, and all the deceased’s real property located within the state. Thus probate almost always is undertaken in the home state. If the decedent owned out-of-state real property, the laws of the other state govern who gets it … [Read more...]

Simple Asset Protection Techniques

Many of the traditional forms of estate planning can be used effectively as asset protection techniques. Gifts of property not intended to defraud creditors remove the assets from your estate. If your child owns the farm, it is no longer at risk from your creditors – although your son’s creditors and his spouse may pose a risk. Retirement plans have a considerable amount of asset protection … [Read more...]