Probate

Many people never get around to preparing their will or updating it as circumstances change. Oftentimes, the excuse we hear from our clients for not having a current will is the perceived cost in time and money to have an attorney draft one. I also believe there is a fear of confronting our individual mortality that causes many of us to put off this necessary task. Not writing your will and failing to do even the most basic estate planning can have a disastrous effect on your loved ones and their survivors.

An introduction to Revocable Living Trusts. A living Trust is an estate planning tool. It must be written to be valid. It is referred to as a living Trust because it is created while you are alive. It is also referred to as a revocable inter vivos trust because you the Grantor (creator) can change it in your lifetime. if you have any assets and you would wish for these assets to be held in trust for your beneficiaries then you should give Trusts serious consideration.

Sometimes when an individual passes away and leaves a will, controversy arises over whether the will should be probated. Family members may find themselves being pitted against one another if the wishes described in a testator's will are disputed. While no one wants to find himself in the position of contesting a will, sometimes there are valid reasons to do so. If you believe that a will is invalid for one reason or another, and you are a potential beneficiary, it may be in your best interest to contest the will.

The use of a Life Estate deed for titling of the primary home for a senior who most likely will live in that home for the rest of their lives, will bring great respect to you as their planner. It's all about gaining the potential clients trust and becoming their center of influence when it comes down to financial decision making. Take the power away from the opposing planner, lawyer and accountant, by being the first to give this very important and helpful information.

Someone close to you may ask you to be executor or trustee of their estate. You may be flattered, or feel honored at that level of trust. But your decision to accept or not to accept must be made with very careful analysis of the situation. You could unknowingly be accepting bitter feuds between family members, years of painstaking work, legal challenges beyond your knowledge, and even lawsuits.