Category: Probate and Estate Planning

Are You the Executor of a Will?

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When people draft a last will and testament, one important step is to select another individual to serve as the executor of the will. This means that after the will-maker (testator) passes away, the executor will be in charge of administering the estate as instructed in the will. This can involve several different complex tasks, and many executors can…

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Do You Have Reason to Contest a Will in Probate?

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When a will is submitted to the probate court following a death, the court must approve the will as valid before the probate process can proceed. While most wills are deemed valid, there are situations in which someone might have reason to challenge the validity of certain provisions or even the entire will. The following are only three examples…

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Estate Plan Changes During a Divorce

estate plan

When you are ending your marriage, you have a lot to deal with, such as your divorce case in family court. While it might be difficult to add something else to your plate, you should consider whether your estate plan should be amended. If you have an existing estate plan, it is likely you will want to make some…

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Get These Documents in Order Before Your Child Goes Away to College

There are three important legal documents that parents should have in place before their college student leaves for or returns to school. Once a person reaches the age of majority, his or her parents are no longer entitled to access medical records, financial information, or make decisions on their child’s behalf.

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5 Red Flags that Indicate a Problem with Your Estate Plan

Although it is easy to consider an estate plan a sealed deal once it is completed, one that has not been updated in a while may need to be reviewed for red flags that might indicate it’s out of whack. A plan that is not updated to reflect family and life changes, current laws, or newly acquired assets can…

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Careful Estate Planning Can Help You Qualify for Medicaid

Careful estate planning can help older or disabled individuals obtain eligibility for Medicaid without depleting their assets, preserving some or all of their wealth while helping them avoid penalties. While the creation of trusts is an attractive solution for many Medicaid applicants, only certain types of trusts are effective for avoiding asset limits, and specific rules apply.

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Trusts and Wills: Why You Need Both

Individuals should consider creating both a trust and a will to help ensure that all of their assets are protected and distributed in accordance with their wishes. While a will alone offers a number of benefits, the documentation becomes public information upon a person’s passing and a will is subject to probate, which can be extremely costly sometimes.

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What Happens to a Reverse Mortgage After Death?

When the owner of a home with a reverse mortgage dies, the heirs are on the hook for the full loan balance and any interest that’s accrued over the life of the loan term. The lender will expect a quick repayment regardless of whether the beneficiary plans to live in the home or not.

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