Do Trusts Really Avoid Probate?

The simple answer is no.  Trusts by themselves do not avoid probate, but they make probate avoidance possible.  Think of the trust agreement as a box.  Anything put in the box does not require court administration (probate) to pass to the beneficiaries.  This is known as funding the trust and is one of the most […]

Estate Planning Review

When to Review Your Estate Plan

It is generally recommended that your estate plan be reviewed every 3 to 5 years. Additionally, it should be reviewed prior to or following any major life event. Some examples of life events requiring review of your estate plan are as follows: Marriage Divorce Births Asset Acquisition Relocation Changes in Wealth Changes to the Law […]

Asset Protection

Asset Protection – Our assets are always at risk. Whether it’s through unknown creditors, accident, divorce, or acts of God; there will always be risks. However, this risk can be minimized through proper planning. On this page you’ll find various strategies to limit an individual or couple’s exposure to creditors. Homestead – Homestead property is only […]

Intestacy

Intestacy occurs when someone dies without a will.  In this instance, the individual’s property will be distributed according to state law. Also, if the person had minor children and did not prepare a designation of preneed guardian for his or her children, choice of a guardian will also be according to state law. The laws […]

Getting Married

Couples getting married need to be aware of how marriage immediately changes property rights for both individuals. Intestacy When someone dies without a will, their estate is intestate. Without a will, the courts must rely on the laws of intestacy to determine how the individual’s assets are divided. Application of these laws changes immediately upon […]