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- What Are the Laws of Intestacy?
The laws of intestacy are the default rules that are followed to dispose of a personís probate estate after he or she dies. These laws are based on state statute. In order to avoid these laws, a decedent can make a will or otherwise dispose of the assets before or at death, such as through a living revocable trust or a testamentary trust.
- Digital Assets in Estate Planning
Many individuals account for their real estate, securities and tangible property as part of their estate plan. However, much of peopleís lives are now online, potentially leaving a personís digital assets unclaimed or even susceptible to theft. A comprehensive estate plan should address the handling of digital assets.
- Holographic Wills: Pros and Cons
Having a will helps prevent a testatorís estate from passing through the laws of intestacy. However, if the will is not executed properly, these rules can apply if the will is considered invalid or does not completely dispose of all property under the will.
- Does My Will Have to Be Witnessed?
Wills allow individuals to avoid the stateís rules about who gets what portion of a decedentís estate. They also allow individuals to name their executors, name a guardian for their children and bequeath specific items to certain individuals. However, if a will is not properly executed, the will can be invalidated and the rules of intestacy (dying without a will) can apply.
- The Duties of a Trustee: How to Choose, How to Prepare
It is not unusual for a family member to be named as trustee for a trust that benefits a number of other family members. However, just because you are related to someone does not necessarily make him or her a good trustee.
- Setting up Your Wills and Trusts with an Estate Attorney
If you or someone you love is planning their estate, it can be a difficult and complicated process trying to wade through all the legal rules and regulations that pertain to writing your will and related documents. Setting up wills and trusts can be especially difficult because the task is often mixed in with a variety of issues such as ill health, complicated family histories, and other emotional dilemmas, which are commonly faced toward the end of a lifetime.
- 6 Circumstances where a Trust Will Serve You Better than a Will
A will is the cornerstone of a complete Florida estate plan, and may be useful for anyone with assets that they wish to pass along to others, as well as parents of minor children who will need a will to name guardians for their children.
- What Are the Requirements of a Valid Will?
In order for a will to be valid, it must comply with certain legal formalities. There are dire consequences of a will not following these formalities, including the decedentís estate being distributed according to the rules of intestacy and the will being completely ignored. While the legal requirements vary by state, here are some guidelines that many states have regarding the creation of a valid will.
- How Do Inheritance Laws Work?
Someone has passed away and that person's friends, family, and loved ones are left to sort out what to do with the things that are left behind. This can include both assets and liabilities. Whether a will was left or not, it is often important to understand how inheritance laws work in order to avoid disputes and keep anyone from being left with nothing but debt.
- What is the Difference Between a Will-based Plan and a Trust-based Plan?
Explaining the differences between a Will-based plan and a Trust-based plan so you can make an educated decision for your family about what is best for you and, ultimately, for them.