We provide a wide variety of estate planning services. From wills to trusts, we will help you plan for the future needs of your families and businesses based on your desires. We can help you plan ahead and prepare the appropriate documents. Most decisions regarding your assets, family and individual wishes can be addressed while you are still living, making decisions easier for your survivors. We want to help you find security in knowing that your wishes are carried out after your death.
Property left through a trust or living trust does not go through probate court prior to reaching the beneficiary. This will take place if the property was owned by the living trust at the time of the decedent’s death. A trust can be made during the decedent’s lifetime. It can also be created according to the terms and conditions stated in the decedent’s will. This will become effective upon his or her death.
What is included in an Estate is the fair market value of the decedent’s, or deceased party’s property at the time of death. This could include cash, real estate, trusts, annuities, business interest and other interests. This excludes property solely owned by a spouse or another.
*The property included in an estate does not necessarily equal the value used to evaluate estate tax.
No one wants to contemplate the possibility of his/her death. Should something happen to you, how will your assets be disposed? Without a current will, the court will decide what is to become of your assets according to what they feel, is best. Having a will allows you to control the distribution of your assets in the event of your death. It also eliminates potential arguments and hardships amongst your beneficiaries.
To be valid, a will must be in written, typed or printed form. It has to be signed with your signature at the end of the document. It also must be witnessed by at least two others present at the time of your signing. If a will does not comply with these requirements, the court has discretion to grant, or not grant, probate, which could potentially invalidate your final wishes. You will want to meet with an attorney who specializes in this area.
If you die without a will, your estate is distributed to court-determined beneficiaries in accordance with the will of the court. Typical examples of potential outcomes include:
Some process is needed to transfer legal title from the decedent’s own name to his or her Beneficiaries or heirs. Property that does not need to go through probate to transfer legal title includes property that passes automatically to someone else at the death of the decedent. Property that passes directly to others includes the following:
At death, your will goes through a process by which it will be determined to be your final wishes and a person or institution is appointed as administer of your estate, per your wishes. The probate consists of the gathering of assets, payment of debts and taxes of administration and distributing the assets amongst the beneficiaries in the will.
A living will is an advanced statement regarding the preference for life sustaining procedures and treatments in the event one becomes incapacitated or terminally ill.
There are three types: