The process of estate planning extends into incapacity planning is well, so it is important to see a complete picture when you are making preparations for the future. Ultimately the objective is to make sure that things are in place for your family after your passing or in the event that you become unable to handle your affairs. It is a good idea to discuss all the details with an experienced estate planning attorney so that you don't overlook anything. Nobody is going to overlook something … [Read more...] about Safely Store Important Information
It is important to consider all of the details when you are planning your estate. Some people think that the execution of a last will is the simplest way to arrange for asset transfers. This is debatable, because the estate must be probated when you use a last will to facilitate the distribution of your resources. Probate is the legal process of estate administration. The will must be admitted to probate before the heirs to the estate will receive their inheritances. Role Of Executor When you … [Read more...] about What Is an Executor?
The probate process comes into play when you are in direct personal possession of property after you pass away. As a Connecticut resident, if your estate is valued at less than $40,000, you could potentially qualify for a simplified probate procedure. Otherwise, your estate must pass through the full probate process unless you take steps to arrange for asset transfers outside of probate. There are certain drawbacks that go along with the probate process. One of them is the fact that probate can … [Read more...] about How Long Does the Probate Process Take?
The last will may seem like the estate planning device for you. Even though you may be a layperson, you probably have a good understanding of what a will can accomplish. With a will you can express your final wishes regarding the distribution of your monetary assets to your heirs. What you may not know about a last will is that your estate must be probated before your heirs receive their inheritances when you use a will as a vehicle of asset transfer. The Probate Process Probate is a legal … [Read more...] about Probate in Hartford Connecticut: Does It Cost Anything?