Good estate planning must consider more than what you want to happen to your property and for your beneficiaries. It also must consider what you intentionally want to avoid happening.
A will is a legal document that spells out the distribution of your assets and how your children will be cared for at your death. Probate is a process used to prove a decedent’s will is valid and to supervise the handling of their estate.
The death of a loved one results in an emotional grief that, when combined with large sums of money on the line, can cause the beneficiaries of the will or trust or the heirs of the deceased to challenge the validity, interpretation, or administration of the will or trust.
Even those with thorough estate plans might have neglected to discuss details with potential heirs.
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.
Frankel, Rubin, Klein, Siegel, Payne & Pudlowski, P.C. is pleased to announce that 4 lawyers have been included in the 2021 Edition of The Best Lawyers
Whether you’re planning ahead for your own heirs or have been asked to serve as executor for someone else, it pays to understand what the role requires.
Has it been awhile since you reviewed your estate planning strategy? If so, it may require some updating, based on recent changes to laws impacting your tax and retirement planning.
Copyright © IMS. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. Some artwork provided under license agreement.
