Estate Planning

Convertible assets

Convertible assets Many assets can be converted to a type that does not involve probate court by simply naming another person as the designated beneficiary. Assets to consider converting to avoid the probate process include: Personal trusts; Life insurance, bank accounts, and retirement plans (Payable on Death Accounts); and/or Property, such as stocks, bonds, real […]

Non-probate Estate Assets

Non-probate Estate Assets Not all of your assets are subject to the probate process and can pass directly to beneficiaries. Typically these assets will not be listed in your will, since each has its own document. It is best to store these documents with your will and other important paperwork. As with most other rules, […]

Estate Assets Subject to the Probate Process

Estate Assets Subject to the Probate Process Whether or not it is necessary for property and other assets to go through the probate process usually depends on who will be the official owner of the asset at the time of your death. The official owner of property is the person whose name is on the […]

Will Options for Couples

Will Options for Couples Mirror Will Mutual or Married Will The Joint Will While an individual will gives you complete control of your wishes after you die, committed couples creating two wills can sometimes be an expensive process. There are other forms of wills that you and your partner can consider if each of you […]

Contesting Your Will

Contesting Your Will Who Can  Contest Your Will? Why Would Your Will be Contested? Whats Happens if the Challenge is Succesful/Prevent If you have considered everything carefully, can you be sure everything is done according to your wishes after you die? Not always, but there are ways to improve your chances Since there has to […]

Dying without a Will – Laws of Intestate Succession

Dying without a Will – Laws of Intestate Succession What are the consequences if you don’t arrange a will before passing away? Everything about the fate of your estate will be out of your hands and your assets are distributed to your next of kin (i.e. your closest family members) even if that is not […]

Updating Your Will

Updating Your Will Creating a New Will Revoking a Will Altering a Will Using Codicils (Addenda or Additions) Creating your will is only half the work. You must keep it up to date with any changes that will alter your estate plans. You may need to add a few things or make major changes. Only […]

Guardians/Conservators

Guardians/Conservators Choosing a Guardian Your Children’s Guardian Guardianship of Incapacitated or Disabled Persons Tasks of the Guardian Ending a Guardianship After you pass away, there may be minor children or other dependents such as disabled or cognitively impaired adults that still need to be cared for and supervised. You will need to choose a legal […]

Your Executor/Personal Representative

Your Executor/Personal Representative An executor is the person you name to settle your will according to your directions. It is helpful to choose a back-up executor just in case something happens to your primary choice. You may opt for co-executors who can either share the duties or have different duties  Your executor is entitled to […]

What Should be Included in a Will

What Should be Included in a Will Your beneficiaries Your choice of Executor/Personal Representative Your Choice of Guardians for Minor Children or Dependent Adults Your assets The content of your last will and testament usually depends on your personal and financial situation, and should include all of the assets owned solely by you. These are […]