Estate Planning, Wills, Trusts, and Probate

Estate Planning

Although no one likes to think about dying, there are good reasons to prepare for this inevitable event by setting up a plan to distribute one’s estate after death. A person’s estate consists of all his or her property and possessions, and includes bank accounts, real estate, furniture, automobiles, stocks, bonds, life insurance policies, retirement...

Probate

With few exceptions, the estate of a person who dies owning property in his or her name cannot legally be distributed without first going through probate. Only if all of a decedent’s property is held in joint tenancy with right of survivorship (pursuant to a written agreement) or in trust can survivors avoid probate. Probate...

Trusts

A trust is another frequently used estate planning device that manages the distribution of a person’s estate. Mechanics of a Trust To create a trust, the owner of property (grantor) transfers the property to a person or institution (trustee) who holds legal title to the property and manages it for the benefit of a third...

Wills

A will is the most common document used to specify how an estate should be handled after death. Anyone designated to receive property under a will (or trust) is called a beneficiary. A will can be simple or elaborate, depending upon the size of the estate and the wishes of the person who makes it,...

Ratings and Reviews