Your estate may be subject to the probate process if you do not take steps to avoid it. Most people use a last will to express their final wishes with regard to the distribution of their remaining financial assets. Unless certain circumstances exist, if you go this route the heirs to the estate will not receive their inheritances until the estate has been probated and closed by the court. Simple Affidavit Depending on the state within which you reside, it may be possible to avoid probate … [Read more...] about Is Probate Always Required?
asset protection planning
There are some so-called "simple solutions" out there when it comes to estate planning. Some people buy into them, and, in many instances, unintended negative consequences result. With this in mind, let's look at payable on death accounts. … [Read more...] about What Is a Payable on Death Account?
Many people are not aware of the existence of probate. When you draw up a last will to state your final wishes, the document is not confined to your family members. Instead, the will must be admitted to probate, and the probate court must supervise the administration of the estate. Let's look at some of the drawbacks of probate. … [Read more...] about What Are the Drawbacks of Probate?
When you consult with an estate planning attorney you get the benefit of his or her experience. There are numerous different ways to arrange for the transfer of your monetary assets. It is wise to be apprised all of your options before making any decisions based on uninformed assumptions. With this in mind let's take a look at revocable living trusts. … [Read more...] about Is a Revocable Living Trust in Oklahoma Right for You?