As families get together over the holidays, people often take the opportunity to make sure their older family members, like parents and grandparents, have a will in place. If you’re the recipient of such inquiries, you might understandably look for the seemingly...
When a business owner dies, their company often becomes part of the probate process if the business or ownership shares are in the owner's name alone. In that case, the court must step in to decide how to transfer those assets to the rightful heirs. That's why it is...
People sometimes cut someone out of their estate plan or leave them comparatively little in order to show their disapproval or disappointment with them. For example, a mother who feels her daughter should have been around more in her old age may reduce her share of...
It is common for beneficiaries to assume that an estate plan will be written equally for all of them. Siblings may assume they will all get an equal portion of their parents’ financial assets, for example. If their parents are going to be leaving a home or other real...
When people die, the property that they own becomes the property of their estates. Any assets without transfer-on-death designations attached or a co-owner may become part of an estate. The assets in an estate are subject to distribution based on the instructions...
Many of your assets get distributed with your will. If you want to leave tangible assets like a car or a home to your adult children, you can name them in your will as beneficiaries. You will also need to address financial assets, family heirlooms and items with...
Business partnerships are relatively common. Two or more people choose to start and operate a company jointly. By pooling their skills, time and resources, they may significantly increase their chances of developing a profitable organization. Partners often trust one...
When a loved one passes away, the process of administering their estate can be challenging on both practical and emotional levels. While property and finances often take center stage, sentimental items tend to stir up the most disputes. These objects carry personal...
Imagine working hard all your life only to have the state decide who gets everything you leave behind. Yet, this situation happens every day because many people fail to have a valid will in place. This could leave your loved ones facing months of uncertainty,...
Major assets are often addressed first in an estate plan. Who gets to own the family home? What happens to a life insurance policy? How do beneficiaries divide savings in bank accounts or investment earnings? It is important to look at these valuable assets to...