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Avoiding Probate with Non-probate Assets

In the event of death, some assets of a deceased pass to those who inherits those assets by will or by law.  These assets pass under the protection of the law and the courts, and the transfer requires proof (probate) of who is entitled to them.  These are probate...

Should I Serve as Executor? 4 Surprising Dangers

It feels like an honor to be appointed an executor in a will--and it is.  Someone trusts you to perform a very important task.  But if asked, should you serve as executor?  Here are four things to consider before agreeing: Basics An executor is appointed by a court. ...

STRAIGHT TALK ABOUT LIVING (REVOCABLE) TRUSTS

Terminology. Living trusts are technically called “revocable trusts.” They are also informally called “living trusts” because the trusts can be set up and operate while someone is living. They are generally revocable, meaning that they can be revoked or changed in...

Lack of trust

We have previously discussed on this blog how sometimes living trusts can be marketed to clients as a one-size-fits-all solution that doesn’t quite pan out. Both Paul and I have seen cases in which seniors paid high dollars to establish trusts that were not necessary,...

No Interference with Inheritance (Archer v. Anderson)

In 1991, a man named Jack Archer executed a will leaving his entire estate to his brother and his brother's children. Jack had four divorces under his belt, but never had any children of his own, so his brother's family became his sole heirs. According to the...