Category Archives: Probate
The Secrets You Keep From Your Family Can Come Out During Probate
There is already enough conflict and ugliness in the world; imagine how much there would be if your siblings, children, or spouse knew everything there was to know about you. In an age where everyone broadcasts everyone else’s business on the Internet, it is harder to take secrets with you to the grave. Meanwhile,… Read More »
You Have The Right To Leave Your Children Unequal Shares Of Your Estate
Personal finance advice columnists have strong opinions about whether you should divide your estate equally among your children. Some say that playing favorites in your will is a sure way to create rifts in your family that will make it very difficult for your grandchildren to enjoy the same kind of close relationship with… Read More »
What To Do If You Don’t Know Whether Your Recently Deceased Family Member Wrote A Will
The probate process, in which the court accounts for a recently deceased person’s assets, gives creditors a chance to seek payment of debts from the deceased person’s estate, files a tax return on behalf of the estate, and distributes the deceased person’s assets to the deceased person’s heirs, depends on whether the decedent wrote… Read More »
Is Reopening An Estate That Has Already Settled Worth The Trouble?
Even uncomplicated probate cases can be stressful when the person for whose estate you were acting as a personal representative settles and the beneficiaries get their inheritance. As long as the estate is open, everyone blames you when creditors surface and claim debts that, once paid, reduce the amount left for you and your… Read More »
Beware Of Known And Reasonably Ascertainable Creditors
The fun part of estate planning is daydreaming about enjoying retirement and about being generous to your descendants. In fact, you might even spend your first few sessions with an estate planning lawyer focusing on your dreams of your golden years and of creating generational wealth. Eventually, though, you will need to confront your… Read More »
Will The Clutter You Find In A Deceased Relative’s House Affect The Probate Of Their Estate?
Selling a deceased relative’s house is often one of the most stressful parts of probate. If the decedent included instructions in their will about selling the house, it makes the process somewhat easier, but selling a house is never easy, even under circumstances that do not involve bereavement. The worst is if the decedent… Read More »
Why Not Writing a Will Makes Probate More Difficult
If you have been working with a financial planner, or even if you have just been researching their websites as an early stage of your New Year’s resolution to start working with one, you have probably found a lot of information about how to keep certain assets from becoming part of your estate. Financial… Read More »
A Crash Course in Probate Law Terminology
In theory, there are a lot of legal processes that are so common that you should be able to complete them without hiring a lawyer. You probably know someone who has legally changed their name, gotten a divorce, or adopted a child, and they may or may not have had professional legal representation. In… Read More »
Distinguishing Between Probate and Non-Probate Assets
The process of administering and probating a last will and testament involves figuring out what assets are estate versus non-estate (or probate versus non-probate) assets. And executor must make this distinction in order to properly address with estate taxes. Probate/Estate Assets The general rule is that all probate assets are assets that must pass… Read More »
How Payable On Death Accounts Fit into Florida Estate Planning
A “transfer on death” account (also known as “payable on death” or “in-trust-for” accounts, or “Totten trust”) allows joint account holders (of a bank account, etc.) to dictate who receives the funds or assets once that the second owner dies. These accounts are managed based on state law; for example, Florida does not allow… Read More »