In light of the current pandemic, many Americans are becoming aware of the importance of creating or updating their estate planning documents. With the extension of some states’ stay in place orders, it may be tempting to create your own documents all on your own. Whether you are considering writing your own will or using […]
Having an updated last will and testament is more important than ever, especially now. However, a will that is poorly created or not frequently updated can be vulnerable to contestation. What is contestation? It is the formal objection to a will’s (or trust’s) validity because it either: a) doesn’t reflect the wishes of the person who created the will, or b) because the will does not meet legal standards.
Unless you’ve been living under a rock for the past week, you’ve probably heard about the Coronavirus (COVID-19) that has created a global pandemic. Well in case you were in fact living under a rock, in the United States, governors have shut down schools, restaurants, salons, and other nonessential businesses in an effort to control […]
Generally, the decedent’s debts are paid from the estate. The estate consists of non-probate and probate assets. Non-probate assets are transferred directly to the named beneficiary upon the grantor’s death. Non-probate assets may include but are not limited to, benefits from life insurance policies, joint accounts, retirement plans, assets in a revocable trust and property […]
One of the biggest myths regarding estate planning is the fact that many believe that because they don’t live in a mansion, drive a luxury vehicle, or their net worth isn’t seven figures, they don’t have an estate. They mistakenly believe that they don’t have an estate and therefore, don’t need an estate plan.