Year: 2021
Writing Your Own Deed to Avoid Probate Can Lead to Unintended Consequences
One common way to avoid probate of real estate after the owner dies is to hold the title to the property in joint names with rights of survivorship with children or other beneficiaries. This is accomplished by adding the names of the children and certain legal terms...
The Peril of Joint Property
People often set up bank accounts or real estate so that they own it jointly with a spouse or other family member. The appeal of joint tenancy is that when one owner dies, the other will automatically inherit the property without it having to go through probate. Joint...
How to Successfully Make a “Large” Gift to Your Children or Grandchildren
What constitutes a “large” gift can be relative. That being said, if you are considering giving cash or property to someone, a little bit of planning can really help avoid negative consequences. This is particularly true if the gifted amounts are over $15,000.00...
The Harmonious Family that Won’t Fight
Most families are happy families. They get together for the holidays, share laughs, and tell stories. Everyone gets along and enjoys each other’s company. Then, the matriarch or patriarch dies. Suddenly, years of pent-up resentment and hurt feelings bubble to the...
Can I Make Estate Plans Without My Spouse
The average American family has changed a great deal over the last few decades. The assumption that a couple will share finances, tax obligations, and a last name is one that does not necessarily apply in the 21st century. There are more options than ever before to...
Will vs. Trust: Which is Right for You?
When you sit down to create your estate plan, there are likely dozens of questions running through your mind. Who should get possession of your home? Who should run the family business? Will you create a college fund for your grandkids? Should you donate to charity?...
Documents No One Should Be Without
WILL A Will is a tool that allows a person to designate to whom he wishes his property to pass. If you do not have a valid Will at the time of your death, the state will write a Will for you according to the laws of intestacy and it may not be how you want your...