If you recently moved to Arizona, then you may assume the will that you drafted in your previous state is also valid here. That's not necessarily the case, though. There's a high probability that the same types of wills and their provisions aren't valid in both...
Year: 2020
When and how does a trust end?
Creating and funding a trust can be a great way to plan your estate. Depending on your needs, a trust can serve a lot of different purposes. It can regulate how your beneficiaries use their inheritance. It can protect your estate from taxation or your assets from...
Contested estate plans may take longer
An estate plan may only take a few months to sort out, but it could also take years. One thing that can cause the process to drag on is when the heirs are contesting the plan or arguing over some portion of it in court. A probate end date If the case does wind up in...
What can executors charge an estate?
When you agreed to be the executor of someone’s estate, you had no idea how time-consuming and costly the process would become. It’s draining your energy and your wallet. Is there any way to make the estate pay some of your expenses? Can you ask to be reimbursed for...
Don’t include these 3 items in your will
Everyone needs to have a will, but did you know that there are some things that you should not put into your will? You may think that a will is the perfect place for anything you want to distribute or talk about, but the truth is that there are some things that should...
Planning your estate and being transparent with your heirs
If you are in the process of creating an estate plan or have already created one and wish to update it, you should be proud that you are ahead of the curve. Most Americans don’t have an estate plan in place, and that can create serious problems when the unexpected...
What you should know if you’re selling a home as part of an estate’s administration
Being the executor or administrator of an estate involves a lot of different jobs. You have to locate the will or estate plan for the deceased person and file it with the probate courts. You will have to review their financial records, manage their financial affairs...
Is a ‘spendthrift’ trust the answer to your estate problems?
You love your child, but you aren’t blind to their problems. Maybe they have a substance abuse disorder, a gambling problem or just make one poor financial decision after another in life. You want to provide for them after you’re gone, but you’re worried that...
Why a digital will may not hold up in court
Creating a will is often a complicated process that involves someone going to a lawyer's office to discuss terms and then coming back later to sign a finalized draft in front of the attorney and a notary. That process exists for a reason. The notary serves as a...
When should you update your estate plan?
Creating an estate plan can help your loved ones to know what you want to happen in your final days if you become incapacitated. It also sets up the distribution of your assets when you pass away. While many people think of estate planning as a one-and-done event,...