Probate is the legal method by that the fiduciary (executor) of the estate ultimately settles all affairs of a deceased dearest. It is typically more sophisticated for the executor of an estate, who has a fiduciary obligation and who has been entrusted with the responsibility of overseeing an estate’s assets while facilitating the methodical process of probating the estate.
The probate court process is how an estate handles the settlement of the distribution of property. The process can be hard to handle on your own. When you don’t have a probate attorney or expert, it can be completely impossible. The entire estate can get tied up in the courts. If you’re asking the question of when to get a probate attorney, the answer is as soon as your loved one passes. If you can, it’s best to have it all arranged prior to your loved one’s passing.
Learn What to Do If You Were Unknowingly Removed as a Beneficiary on Your Husband’s Will
When someone serves in the military, they are entitled to a life insurance policy. Within the policy, the member must designate a person to be the beneficiary of the policy when they die. The beneficiary can be changed at any time if the military member decides that he or she wants to change it.
Case update from the NJ State Bar Association:
In the Matter of the Estate of Mary Jane Lynch, N.J. Super. App. Div. (Suter, J.A.D.) (19 pp.)
Decedent executed a will and declaration of trust wherein her personal property was to be equally distributed to her two children, appellant-daughter and appellee-son. The residuary estate was left to the family trust and the assets there were divided equally between the siblings. Continue reading
After the death of an estate owner, the estate is taxed whenever the property is transferred. In order to limit estate taxes, the individual can give gifts prior to death. There are several things you should know regarding how gifts are taxed according to estate tax law. Continue reading
What is Probate?
The term ‘probate’ means ‘proof.’ The term probate in the legal system is proof that the will is ironclad in a court of law. A separate court, called probate court, examines the will to determine how ironclad it is. Strong wills divide assets based on what the deceased wanted. Wills with loopholes, no wills, or wills that excludes assets will follow the rules based on state probate laws. Continue reading
Probate in California can be avoided with the use of the small estates law. California does not require estates of $150,000 or less to be probated. The assets can be collected forty days after death with a declaration or affidavit signed under penalty of perjury. The small estates law does not require documents to be filed with the Superior Court.
Trusts are very beneficial for estate owners to create. They leave you with peace of mind that your family will be able to inherit your estate. There’s different trusts available today. Each are beneficial to estate planning, income taxes, and for protecting your assets. Continue reading
Meeting the person you’d like to spend the rest of your life with in a second marriage is a joyous occasion. Often, one or each person has children from a previous marriage or relationship. In a blended family, the responsibility to take care of the children falls on both parents and the new spouse in many cases. When you have an estate to settle between the both of you and your blended children, California families need to plan for the future. Continue reading
Estate planning involves a transfer of wealth in families between generations. This is often a contentious and complicated process because no one relishes speaking of their own death, and how to disseminate their personal property among loved ones. This leads parents to make these decisions without involving their children or heirs so as not to burden them with such a morose topic, but this causes confusion, disputes and litigation against other family members and even personal attorneys. Continue reading
All of your belongings constitute your “estate.” These include your portable belongings (i.e. clothing, automobiles and cash) and your fixed property (i.e. land). When you die, all of your belongings will be placed in an estate for distribution. Therefore, you might want to contact a Palm Springs estate planning attorney to ensure that your children have a positive future. Continue reading
When a loved one dies, you will naturally go through a lot of emotions. You probably don’t have the emotional fortitude or legal background to deal with all of the issues, which may arise during the probate process of asset distribution. This is when a Coachella Valley trust litigation attorney can be essential. Continue reading
The term probate estate is in regards to any assets that are left behind when an individual dies. All fifty states require probate unless protection has been ensured with a trust. Probate validates wills, pays any debts and divides the assets among the existing beneficiaries. Continue reading
Probate is a legal process following the death of an individual. You will encounter this if the owner of the property you are listed as beneficiary dies.
Steps followed during the process include:
- Proving the will of the deceased person is valid in court.
- Identification and appraisal of the deceased’s property.
- Payment of taxes or debts owed. Continue reading
Some people are not comfortable discussing death and illness with their aging parents. In truth, all of us will get older and have to rely on others for various forms of support. While the aging process can be difficult you can lessen the strain by planning ahead of time. It is important to sit down with your parents and discuss their future with them. Continue reading
Estate planning is a complex process that involves the passing of inheritance from one generation to another. It can also be a primary source of contention among family members, however, many of the disagreements can be eradicated with proper estate planning and execution. Continue reading
Many people think of a probate litigation case, as a case that occurs after a person is deceased. That is only partially true as these cases can certainly involve cases involving wills, trusts, estates, asset disputes, joint bank accounts, gifts. There are many cases, however, that occur while a person is still living. Continue reading
We work our entire lives to be prosperous and leave a legacy for our loved ones and charities we care about. Tomorrow is promised to no one and there should be legal documentation in place to ensure everything that has been worked for will be utilized how you see fit. Continue reading