In presentations regarding essential actions individuals should take regarding inheritance, emphasis is usually placed on drafting a will. This leaves unanswered what happens to assets that do not pass by will —so called non-probate assets.
When it comes to owning property in two different states, you may wonder how to manage these in your estate plans.
Life estates can provide effective means to create joint ownership of property, avoid probate and transfer property after death without incurring gift taxes.
Major changes in your life—such as marriage, having a baby, moving out of state, or divorce—should prompt a revisit to your current will. It is important to revise your will at these times, in order to ensure that your estate planning is up to date.
Conversations about family succession plans are difficult.
Have you considered transferring ownership of your home and wondering what records or paperwork is required? The reason for wanting to transfer will help determine how you should proceed.
Understanding what happens to your debt when you die is an important part of estate planning—and you don’t have to be rich to have an estate. Everything you own and owe makes up your estate. For many people, that includes a house with a mortgage.
While discussing estate planning with my parents, they told me that an attorney prepared a deed for them but told them not to record it yet.
Before you decide to put your home in an irrevocable trust, it is important to have a basic understanding of what you are doing and why.
We have all heard the saying ‘plan your work and work your plan.’ Planning is one of the most important aspects of managing any business. This is especially true for farms and agribusinesses, due to their complexity and the inherent uncertainties associated with agriculture.
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