Inheritance tax: What is it? One form of tax that certain state governments impose is inheritance tax. You don’t need to be concerned about inheritance
A question that pops up inside every adult’s mind is, “Do I need an estate plan?” A study reported that more than 76% of adults
When you live in NYC, and if you die without leaving a will, things can actually get complicated for your family members. Before you die
The need for the probate process occurs when a person dies and leaves his assets behind. Accepting the death of your loved ones is difficult,
If you haven’t married, or you are divorced and widowed then you might think that estate planning isn’t your cup of tea but it is.
Every person owns some property and assets in the form of real estate, bank accounts, stocks, etc. Have you ever thought about what will happen
Government gift tax Almost anything you own can be given as a gift. In addition, the IRS permits you to donate up to a specified
An executor who does not report theft from an estate before inventory commits theft by stealing property from it before inventory is conducted. According to
The legal procedure that follows a decedent’s death is referred to as probate. It establishes the distribution of the decedent’s estate. However, the probate inventory
The probate process is a complicated one with lots of costs. However, with the help of a professional, you can save money by knowing what
Creating an estate plan entails deciding who will ultimately inherit your assets if you cannot manage your affairs independently. It also specifies how you want
Introduction The court uses state law to distribute the assets if the deceased didn’t leave a will. Having a last choice would have facilitated the
Do you want to know whether you will have to undergo Probate now that your loved one has passed and leaves a last will and
In a trust, one person (“trustee”) holds assets on behalf of another person (“beneficiary”). Generally speaking, beliefs have unique special rules established by a written
Real estate planning goes beyond making the will. Careful planning means collecting all your assets and ensuring they will transfer to the person or organization
What is Probate? The court-supervised process of probate is where the assets of a recently deceased person, known as the decedent, are transferred into the
Do you want every one of your benefits like property, cash, vehicles and stocks to go to your family members when you are no longer
A probate lawyer or an estate administration attorney usually helps in wrapping up the estate of that person who has lost his life. You’ll get
Although the beneficiary designation is a crucial step in estate planning, it is handled separately from your actual estate plan. Additionally, if the provisions in
After the death of a person, the probate court oversees the entire process of transferring his/her assets to the beneficiaries, which is known as probate.
Estate planning is one of the most critical responsibilities that an individual has. What you do with your assets when you die is something you
Is it trustable to supersede a will? What assistance can an estate planning lawyer provide you with that? As part of estate planning, many people
You can save on a significant amount of time and money if you plan well in advance. This planning should be about what will happen
Probate begins soon after you lose your loved one. However, probate is a legal proceeding that validates a will to settle an estate. So, let
A person is considered to have died intestate if they pass away without leaving a will; in this case, their assets, including their bank accounts,
Introduction The attorney will handle the will, probate, and other legal issues that arise. The probate attorney will also help with administering the estate and
A person’s estate consists of all of their possessions and assets. It includes real estate, buildings, gold, stock, mutual fund holdings, life insurance policies, cash,
As the name suggests estate planning is basically a plan to deal with your estate. Estate planning is an essential tool to manage your assets
There is a widespread misunderstanding regarding wills, estate handling, and the probate procedure. Many individuals believe that a will must always go through the probate
