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As the name suggests, probate lawyers handle the last leg of estate planning. Probate is the process by which the court validates a will. The
We spend our lives accumulating wealth and fulfilling the wishes of our loved ones. Apart from this, we plan for our retirement as well such as funding our retirement accounts like IRAs, 401(k)s, 403(b)s, etc. However, while starting these accounts we need to ensure that we have properly designated a beneficiary who would get the money if in case of our death. Failing to do so can result in our accounts facing probate for the distribution to the heirs. However, by properly updating the beneficiary designation one can avoid probate and thus such accounts can bypass the probate When a person opens a retirement account, naming beneficiaries is among the paperwork required to do so, which can be a single
It is certainly very hard to contemplate your very mortality and we completely understand it. But then there are some people who ensure that their wills are planned along with their estate so that their loved ones are able to live in peace after their deaths. The people who have an immediate family are the first ones to do it. However, in the case of no family members, what do people do? Well, it might not be that common for the owners to provide something for their pets in their wills and trusts, this practice is definitely catching on. More and more people are trying to make certain provisions for the pets that they have. Estate planning is a very
Scarlett Johansson poked fun at Sen. The post Scarlett Johansson parodies Sen. Katie Britt’s GOP State of the Union response in ‘SNL’ cold open appeared first on lawyer.bet.
You are happy in your second marriage after a bitter divorce. You have children with your ex-spouse and with your current one. The blended family is truth in many homes in the USA today. Every parent wants to include all the children in the estate planning strategy. The trick is to make a plan that is fair to everybody. This includes your present spouse, children from your first marriage and from your second marriage too. You might want to leave something behind for your other loved ones too. Each blended family is unique. The key to creating a great plan is communication. Once you are clear about what you want to do, it is time to connect with an estate
Mostly people think that estate planning is meant for rich and wealthy people and thus assumes that they don’t need estate planning as their assets will get transferred to the family automatically. While the fact is that each and every individual has one or the other valuable asset like a home, car, saving account etc. and thus an estate plan is required so that their wishes get fulfilled as without it, the fate of your assets and family is decided by the state laws. As estate planning is very difficult task, one should do the planning calmly and should not make a rush. Many people do mistakes while estates planning due to several reasons like evasion, scarcity of follow up