The probate process usually takes place in probate court and is known to most people as something that happens after someone passes away. Unfortunately, fewer people know that it can be a long and complicated process. It can sometimes take…
Succession and estate planning can be challenging for farm and ranch property and related livestock, equipment, and other personal property. There is a common misconception that federal estate taxes threaten farm or ranch property, preventing assets from getting to rightful…
Having an estate plan ensures that your assets, interests, and those you care about are protected after you die. Unfortunately, many individuals make costly mistakes without proper advice and guidance from a qualified estate planner. Beyond undermining your intent and…
Keeping your adult children in the dark about their inheritance can have costly consequences. Knowing how their inheritance situation will affect their financial planning can help them make better decisions. These are practical matters of allocating resources for things like…
In some cases, disease, injury, or illness can prevent people from communicating their needs and wants. When this happens, they need someone they trust to advocate for them. You can prepare the proper legal documents in advance. Losing the Ability…
As you start to plan for your future, both in terms of financial affairs and health care needs, you may wonder what estate planning and elder law entail and how they differ. Estate planning and elder law also have some…
In the event of your death, a will addresses who will inherit your assets and properties according to your wishes. Your will names a personal representative (executor) who will carry out your directives. In addition to asset distribution, your executor…
A spouse's death is a life-changing experience emotionally, spiritually, and often financially. It is common for one spouse to handle family tax and estate plans, and a widow(er) may be looking at a complex financial situation with more questions than…
In the United States, probate is the process by which a will is formally acknowledged, and a personal representative (executor) is named to administer the estate. Navigating the probate process will vary according to state law. Therefore, it is good…
As your mental capacity decreases and your health declines, it can become more difficult for you to make sound financial and healthcare decisions. Putting these five must-have legal documents in place before life becomes too difficult to handle is crucial…