Probate is a process to transfer the assets after someone dies. For example, when a homeowner passes, probate allows for the home to be sold or transferred, if necessary, even though the owner is no longer alive to sign a deed.
Second (or third or fourth) marriages often require careful balancing between the needs of the surviving spouse and the needs of the children from a previous marriage.
The probate process refers to court proceedings that you have to go through when a loved one passes on, and they have left an asset in their name.
September is the most common birth month of the year. It’s also a good time for new parents to think about the financial side of their parental responsibilities.
During estate planning, one of the situations that you must plan for is the possible sale of real estate, artwork, and especially operating family businesses. What is sometimes overlooked in planning is what happens after there has been such a sale.
If you have lost your spouse during this time, there are so many issues you must address–funeral arrangements, meeting with lawyers and accountants and dealing with finances. All of this comes on top of dealing with the emotional loss.
Why wait? A variety of trusts—from SLATs to BDITs, GRATs and more—can help you be proactive in protecting your wealth.
Part of estate planning includes helping with the ever-escalating costs of education for children and grandchildren.
Although there is often a progression of complexity in estate planning, this progression generally follows stages in life rather than specific ages.
If you have updated your estate plan during the Covid crisis and even found a way to sign your documents while maintaining social distance, do not overlook the last step of trust funding.
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