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You’re already dealing with the loss of a loved one, and now you’ve discovered that they died with more debt than you (or perhaps they) realized. It’s certainly not what you’d hope for, but it also might not be as bad as you fear. In all likelihood, you're not responsible for paying the estate’s debts.
If you’re in the midst of estate planning, you may be wondering: what’s the best way to leave my property when I die? How do I leave my house to my children? There’s no cut-and-dry answer, but there are some basic principles that will keep you on the right track.
Real Estate is the number one asset that triggers probate. Why? Because changing the title to an asset in order to avoid probate requires filing a new deed to transfer the property — not a simple process.
Retirement assets like 401Ks, IRAs and annuities may or may not go through probate, depending on whether the owner of the asset designated a valid beneficiary prior to death.
Contested probate occurs when someone challenges a will that has entered into the probate process. Emotions and tensions often run high after the death of a loved one, but contesting a will requires more than a belief that the will is unfair.
In fact, making minor modifications to your will is relatively easy. A codicil to a will is a document that changes a portion of the will without invalidating or modifying the will in its entirety.
Are you facing an end of life situation and suddenly hearing the term “probate,” but you’re not quite sure what it entails? Probate is the process of transferring the assets of the deceased and closing their financial and legal affairs.
Conducting a thorough assessment of all of your assets can help you and your loved ones understand the best course of action to take with regards to probate and state laws.
If you’re struggling with a recent death or are looking for alternative ways to help aging parents, we can help.
If you are a beneficiary of a home asset, it’s important that you take the right steps to ensure that the property is covered by insurance through the probate process — here's how.
If you're facing a potential will contest, you could be is also faces serious financial and emotional strain. Here's what to do if you find yourself facing a will contest.