Talking about what happens after you pass away isn?t an easy thing to do.
Most people don?t want to do it. And that?s normal!
But, we have to remember that after we breathe our last breath, something does happen to our estate? whether we planned for it or not.
When an individual who has written a will dies, and he or she owns property solely in his or her name, a formal court procedure (?probate?) is usually required to confirm to whom the property will pass.
If the person dies without a will, the property also goes through probate court and will pass to the individual?s heirs at law. The state laws determine who the individual?s heirs are and what they receive.
In some states probate practices have become streamlined and cause few problems. In other states, probate can be a time-consuming process with statutory requirements (i.e., requirements that are regulated or authorized by law) that can last from months to years.
The process can also be expensive. In addition, probate is a matter of public record, and this sometimes leaves heirs open to calls from unscrupulous salespeople and others.
I have seen too many people fail to plan properly, and it?s their children and other heirs that pay the consequences? through months or years of legal proceedings, and thousands of dollars in attorneys fees.
Often, with a few documents in place that work with your specific circumstances, you can relieve the burden of the probate process for those you love.
It is possible to legally pass property to another person without going through probate.
However, keep in mind that although it is often beneficial to avoid probate, because it can be costly and time consuming, such devices have pitfalls; probate is sometimes the best option.
It?s best to consult a professional to see what?s right for your family.
This information is general. Before taking action to avoid probate, you should consult an elder law attorney in your state who can examine your specific situation and advise you accordingly.
To find out more about the benefits and pitfalls of each of these options, open the guide ?Everything You Always Wanted to Know About Alzheimers But Were Too Afraid To Ask ? Answers to Over 92 of the Most Frequently Asked Questions at the Alzheimer?s Resource Center? and read articles 96 through 99.
Always be sure to consult an elder law attorney before taking any steps. These general guidelines may work for some people, but for others, probate is the best way to go. Find out what?s right for you.
www.AlzheimersResourceKit.com/hammond/resources/everythingaboutalz.html
Tags: Estate Planning, Probate
oscar nominations rough riders joy division camille grammer camille grammer dodd frank norco
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.