Posts in Probate
Vacations Are The Perfect Time For Families To Talk About Estate Planning

Find a good place to start. One of the best ways to ease your parents into a financial discussion is to bring up your own. Tell your parents that you were looking into your own estate plan and wondering if they had already executed their own. Sometimes you can use scare tactics to good effect – there are lots of stories about celebrities or others who have neglected to plan and paid the price with dire consequences.

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7 Good Reasons You Need An Estate Plan Even If You Have $500 In The Bank

1. Your Health Care. Defining how your medical needs will be addressed in case you cannot make health care decisions for yourself is a primary objective of having an estate plan. You also need to consider how you will meet the costs of long-term care. You need to name someone to make decisions for you and tell them how you want them made. This must be legally documented or the person you want caring for you, cannot.

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What's Changed In Your Life?

Your estate plan is not a "set it and forget it” kind of thing. Your life changes, your assets change, the laws change — and if your plan doesn’t change, your family gets caught holding the bag. The people you love most end up bearing the brunt of your failure to act.

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How To Fund Your Trust And Avoid Probate

1. Real estate – a new deed in the name of the trust must be drawn and recorded at the county clerk’s office. Stocks, bonds, mutual funds – to transfer the ownership of these assets into your trust, you need to contact your broker, investment counselor or transfer agent for the proper paperwork and complete those documents as instructed.

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Give While You're Alive To Avoid Family Feud

A New York Post article about brothers battling over a painting from their uncle’s estate serves as a reminder of the importance of designating a destination for your personal property, either through a will or by gifting while you are still alive. The brotherly brouhaha came about after noted Manhattan interior designer, David Barrett, died and left his two nephews – Richard and Alan Barrett — “equal shares” in his $5.6 million estate.

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