Trusts are increasingly becoming popular in the securing individual estates because they offer a smart way of protecting property and assets. A living trust is more preferred than a will in so many ways. Its assets do not get filed in probate. They are distributed without involving the state. A living trust enables estate owners…
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Scenario My relative passed away a few weeks ago due to the virus and left behind a will. How do I initiate probate with the current lockdown in my state? The coronavirus has caused tough times in peoples’ lives, work environments, and businesses. Everything seems to have assumed a new turn, and access to justice…
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Planning your estate preserves your assets for the benefit of the heirs. It can be disastrous for those who assisted you in building the estate to be depleted after death. This article explains how you can use a living trust to secure your assets from the probate process. Planning one’s estate entails transferring some assets…
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When a person dies without writing a will, it means no one is assigned the responsibility of administering the estate. As a result, there will be delays in giving the estate to the beneficiaries. This also leaves a high possibility of the beneficiaries arguing over the estate. Study shows that over 70 percent of adult…
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Most people advise against allowing the estate of a deceased relative to go to probate. There have been some misconceptions about probate and what it entails, making most people seek ways of bypassing it. Although the probate court offers an experience that is not so fulfilling, it plays an essential role in ensuring the fair…
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Transferring your estate to beneficiaries requires that you do all you can to bypass probate. Although a trust is one of the best ways to achieve this, it is not the only one. Probate is often triggered by four things – deeds, titles, accounts, and registrations. A trust can help to get exempted from tax,…
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Every year, there are millions of money used to clear bills associated with the probate process. This happens after a loved one dies and their estate is taken to a probate court. Avoiding the probate process ensures that the deceased’s estate gets distributed to the designated heirs without incurring a lot of costs. Tidbit: Completely…
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Death doesn’t discriminate – it comes to everyone. However, on average, men die earlier than women. Women live longer than men, though their earnings might not be that much compared to men. Whatever the case, women have special needs when it comes to estate planning. As a lady, when is the last time you sat…
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Building a collection takes years of dedication, time, and genuine passion. Whether your collection is filled with the most stunning renaissance artworks or McDonalds’ Kids Meal toys, creating an estate plan that dictates what happens to these items can ease your mind. Death is Inevitable Everyone dies. Bottom Line. You cannot escape death. Often times,…
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When you read the dailies or listen to news, you will come across instances when a person has contested a will that was written by a deceased person. Of late, there has been an increase in the number of wills being disputed. A death in the family can turn out to be a blessing or…
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