A highly successful estate-management strategy for avoiding inheritance disputes is to make a meticulously detailed and legally sound will.
Many people want to learn how to avoid probate so their heirs don’t have to cope with these legal proceedings during a stressful time of grief after a death.
A living trust won’t be for everyone. However, it can provide big benefits for some. Many people use a living trust for one big reason: avoiding probate. However, there are other reasons you should seriously consider.
Estate planning involves both trust funds and wills to help ensure the smooth transition of assets to your beneficiaries.
If you are headed somewhere warm to spend the winter months, you will want to be sure you have everything in order before you go.
When someone dies, one of the first questions the attorney will ask is what primary estate planning instrument the decedent had in place.
In my experience, estate planning is one of the areas of personal finance with the most widespread confusion. Unfortunately, this can lead to costly mistakes in time, money and stress on people’s families.
Even though the death of a loved one comes with unbearable grief, there are important tasks you must carry out as soon as you’re able.
Take the squabbling between siblings you’ve had to endure and referee as a parent. Now multiply it times age and money. That might give you some idea of the need to make your final wishes clear when the time comes to divvy up your assets.
History is filled with examples of celebrities who died without a will: Bob Marley, Prince, Howard Hughes, Pablo Picasso, Jimi Hendrix and even Abraham Lincoln.
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