When is Probate Necessary?
Wed 8 May, by FritzLaw on Estate Planning, Probate
Whether or not you have an estate plan in place, you have likely heard the term “probate”. Probate is the legal process by which a deceased individual’s assets are distributed under court supervision. This process is necessary to distribute assets that are solely in the name of the deceased person. Probate is governed by state law. Avoiding Probate One of the appealing aspects of putting together an estate plan is to avoid probate. One way …
Why a Trust Is the Best Option for Avoiding Probate
Fri 21 Dec, by FritzLaw on Estate Planning, Probate
Obviously, ideally, when someone passes away, the paperwork and material concerns associated with the estate are so flawlessly handled (thanks to excellent preparation) that they fade into the background, allowing the family to grieve and remember in peace. In fact, the whole business of estate planning – or at least a significant piece of it – is concerned with ease. How can assets and legacies be transferred to the next generation in a harmonious, stress-free, …
The Pros and Cons of Probate
Wed 21 Nov, by FritzLaw on Estate Planning, Probate
In estate planning circles, the word “probate” often comes with a starkly negative connotation. Indeed, for many people — especially those with larger estates — financial planners recommend trying to keep property out of probate whenever possible. That being said, the probate system was ultimately established to protect the property of the deceased and his/her heirs, and in a few cases it may even work to an advantage. Let’s look briefly at the pros and …
How Estate Planning Can Help You Dream About Your Future
Tue 23 Oct, by FritzLaw on Estate Planning, Probate
A dream without a plan is simply a wish. Estate planning is not just about death and taxes — it puts you in the driver’s seat of your financial life, allowing you to set achievable goals. It is a great opportunity to focus on the legacy you want to leave behind for loved ones, help you avoid the expense and delay of probate, as well as help you save on taxes. Putting Your Dreams on …