When a last will is used to transfer assets, the process of probate will be a major factor. In a will, you would name an executor, and this individual would act as the estate administrator. They would be required to admit the will to probate, and the court would provide supervision. The probate court is responsible for determining the validity of the will that is submitted. Because of this, anyone that wants to come forward to contest the validity of the will could do so during … [Read more...] about Address Possible Estate Challenges
Probate is the legal process of estate administration. If you use a will, you would name an executor to carry out your final wishes, and the probate court would provide supervision. This court would also be involved if you were to pass away without any estate planning documents at all. In some instances, a child or an incapacitated adult will need a guardian. This is another matter that would be handled by the probate court. In this post, we will look at five things you should know about … [Read more...] about Five Key Facts About Probate
The estate planning attorneys here at our firm often explain the anatomy of living trusts to interested clients. Before we proceed to do just that, we should point out the fact that a revocable living trust can be a very useful alternative to a last will. Assets cannot be distributed until the estate has been probated when a will is utilized, and the wait for the inheritors will typically be somewhere around a year. There are also myriad expenses the pile up during probate, and the money … [Read more...] about What Does a Trustee Do?
Revocable living trusts are a good estate planning solution for many people, and this includes those who would not consider themselves to be wealthy. However, there are things they can and cannot accomplish and we would like to provide some clarity here. A revocable living trust is indeed revocable in a literal sense, so you can change the terms or dissolve the trust if you choose to do so. Most people also act as both the trustee the beneficiary while they are still alive so they retain … [Read more...] about What Living Trusts Do & Do Not Accomplish
You may have heard about living trusts and have questions about why you would want to use such a trust to arrange for the transfer of your assets after your passing. We have prepared an informative report that will answer all of your questions and provide you with some insight into why living trusts are becoming so popular these days. To obtain your free Connecticut living trust report simply click this link and complete the form that you will see so that we know where to send access: … [Read more...] about Connecticut Living Trust Information
You should be aware of all of your options when you are planning your estate. People are sometimes hardwired to the idea that estate planning revolves around a last will. In fact, you don't have to use a will to arrange for the transfer of your assets, and there are reasons why you may want to choose an alternative vehicle of asset transfer. One of these would be a revocable living trust. There are those who are under the misguided impression that these trusts are only good for the extremely … [Read more...] about Three Things to Know About Living Trusts
Living Trusts can be great tools for people who wish to protect property for their heirs, delay distribution of assets to heirs, or simply avoid the costly process of probate. Unfortunately, some people draft Living Trusts and then do not properly fund them before their death, meaning the estate must undergo probate. Fortunately, there is still time for you to learn about how to properly fund your Living Trust. What is meant by ‘funding’ my Living Trust? The funding of your Living Trust … [Read more...] about How to Fund your Living Trust