When you create your comprehensive estate plan you will need to take into account various state and federal laws that will impact different aspects of your overall plan. This has historically created a significant amount of confusion for those creating an estate plan because the individual states have the option to make their own laws governing wills, trusts, and the states. In an effort to clear up much of the confusion and streamline issues involved in estate planning the Uniform Probate Code, … [Read more...] about The Uniform Probate Code and Estate Planning
Probate is the legal process that an estate has to go through unless steps have been taken to avoid it, and of course probate lawyers represent the interests of their clients in probate or surrogate court. But they typically handle myriad issues beyond the matter of the probate proceeding itself, and many probate lawyers offer holistic planning solutions to their clients. The senior citizen population is the fastest growing segment of the population in the United States. And when you drill down … [Read more...] about The Wide Scope Of Probate Law
There is a general misconception that exists concerning estate planning in regard to age. Many people are under the impression that you don't need to prepare a will or engage in other forms of planning until you reach your twilight years and have accumulated considerable assets. In fairness, it is true that people at or past the age of retirement are probably going to see estate planning as a more immediate need than young people who are just starting out in life. But the fact remains that … [Read more...] about Estate Plans Benefit The Young
To understand the benefits of pay on death (POD) or transfer on death (TOD) accounts you have to first take a look at the process of probate. When an individual dies the estate has to go through probate, which involves the legal administration of the will if there is one and the settling of any debts that may exist. This is done through a probate or surrogate court proceeding, and in many cases it can be nothing more than the shuffling of a lot of paperwork. However, if the will is being … [Read more...] about What Are Pay On Death Accounts?