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Sadly, seniors are particularly vulnerable to financial exploitation, but with a little bit of planning you can protect them.
After someone dies, probate may be required to ensure the legal transfer of assets to the rightful heirs. The rules for this can vary widely, and as such may cause confusion during an already painful time.
Regardless how much we love our pets and treat them as family, in the eyes of the court they are property. This means that, unless you include a clause for your pet in your will, there is no legal requirement for your heirs to care for your pet.
The probate process is notoriously slow, but with a little bit of foresight and careful planning, there are a few things you can do to fast-track it.
Dealing with end-of-life administrative processes can be a stressful and emotional time. After the death of a loved one, it can sometimes be unclear as to how the assets of the deceased will be distributed.
Are you putting off the probate process? If so, you should know that there could be steep consequences for waiting too long. Squatters, Stock Market Crashes and Insurance Claims can case major issues in probate.
The type and amount of taxes you pay (if any) depends on the asset you inherit and the details of the estate. Figuring out the exact number can be a complex process.
Deciding whether to talk to your children about your estate plan can be fraught with a host of difficult emotions — anxiety, fear, resentment, perhaps even guilt — but there are good reasons to have the conversation.
When you file probate, at some point you will likely encounter the probate clerk. In states that allow for electronic filing, interactions will be more limited. But your probate clerk could still be a valuable resource during the process.
Spending lots of time thinking about your own death can feel a little morbid, but none of us know when a tragedy could strike. Having a plan in place helps ensure that our loved ones are cared for and that our assets are protected if the unexpected occurs.
If you’re struggling to talk with your parents about their estate planning, you’re not alone. One third of older Americans have not discussed their aging or end-of-life plans with their family, according to a 2018 Wells Fargo study.
Have you been thinking of the future and wondering how best to take care of your family? You may think that creating a will means you can avoid probate – unfortunately, that is not the case.