Learning that someone close to you has passed away is rarely easy to accept, even if you were expecting the death. The same can often be said for learning that you were named as the Executor of the estate in your loved one’s Last Will and Testament. The thought of taking on the responsibility for probating an estate may seem rather daunting, particularly in light of the fact that you are still grieving the loss of your loved one. The good news is that help is available. Probate attorneys not … [Read more...]
Medicaid Attorneys Explain the Community Spouse Rules
The average American can now expect to live almost twice as long as his/her ancestor did just a century ago. Living longer, however, also comes with an increase in the likelihood of needing long-term care (LTC). If you do end up needing LTC, the high cost of that care also means you may end up turning to Medicaid for help covering your LTC expenses. To qualify for Medicaid though, you cannot exceed the program’s (very low) income and asset limits. Where does that leave your spouse, however, if … [Read more...]
Estate Planning Attorneys Explain What Happens When Someone Contests a Will
Like many people, you may choose to execute a Last Will and Testament as your primary method for distributing your estate assets after you are gone. You will undoubtedly spend a considerable amount of time deciding which assets you wish to gift to which beneficiaries in your Will. After your death, your estate will need to go through the legal process known as probate. During the probate process, someone could decide to challenge the validity of your Will by filing a Will contest. The estate … [Read more...]
Estate Planning Attorneys Remind You to Include Your Pets in Your Plan
If you have a dog, cat, or any other type of pet that you consider to be part of the family, you likely spend a considerable amount of time, energy, and money to ensure that your family pet is happy and healthy. Have you taken the time to consider what would happen to your beloved pet if something happened to you? Sadly, many people do not which is why the estate planning attorneys at Nash, Nash, Bean & Ford, LLP would like to remind you to include your pets in your estate plan. Doing so … [Read more...]
Trust Administration Attorneys Explain What Happens If The Trustee Cannot Serve
Although most people continue to use a Last Will and Testament as their primary estate planning document, another option has become increasingly popular as well – a trust. Trusts are also commonly used as a secondary estate planning tool that can help achieve a specific goal, such as incapacity planning or asset protection. Regardless of what type of trust is used, and what the trust is intended to accomplish, all trusts must have a Trustee, appointed by the Settlor (the trust creator) whose … [Read more...]
Can Probate Attorneys Help Me Contest a Will?
The time period immediately following the death of a family member is one that is typically filled with a number of heightened emotions, including grief, despair, and even anger. It can also be a confusing time for those left behind as they try and focus on the practical and legal ramifications of their loved one’s passing. The decedent’s Last Will and Testament must be submitted to the appropriate court for probate as soon after his/her death as possible. One of the first steps in the probate … [Read more...]
Why You May Not Want Your Spouse As A Trustee
Although a Last Will and Testament remains the most common estate planning document, even a relatively simple estate plan will typically require additional tools and strategies to accomplish all the goals of the plan. A trust is among the most popular of these additional tools, due in large part to the flexible nature of a trust and the numerous estate planning goals that can be furthered through the use of a trust agreement. If you decide to include a trust in your estate plan, you will need to … [Read more...]
Top 5 Questions for Estate Planning Lawyers
Despite understanding the importance of having an estate plan in place, over half of all Americans do not have one. Moreover, many of those who do have a plan fail to update and/or expand their plan as needed. One of the primary reasons for the lack of a plan, or for an inadequate plan, is the simple fact that estate planning can be intimidating, confusing or "I'll put it off until next month/year". The average person doesn’t know when to start planning, what to include in a plan, nor when … [Read more...]
Living Trust Attorneys Explain How to Modify or Revoke a Trust
A comprehensive estate plan will almost always employ ancillary documents in addition to a Last Will and Testament in order to accomplish all of the plan’s goals and objective. One of the most popular of these ancillary documents is a Living Trust. In fact, your estate plan may include more than one trust agreement given how flexible a trust can be. Of course, most people also find that their estate planning needs and goals change as they move through the various stages of their life. What … [Read more...]
Probate Attorneys Explain What Happens If the Decedent Didn’t Have a Will
When a family member or close loved one dies, one of the first practical tasks people do is look for the decedent’s Last Will and Testament. What happens though if you can’t find a Will? Not everyone gets around to executing a Will before they die. If you recently lost a loved one, and are wondering what to do in the absence of a Will, a probate attorney explains what happens next. What Is Probate? When an individual dies, that person leaves behind a legal estate consisting of all assets owned … [Read more...]
