It is not uncommon for couples to enter into marital agreements stating what property is separately owned by each spouse and the property rights each spouse will have in the event of separation, divorce, or death. They are most common when one or both of the spouses is wealthy, owns a family business, or expects […]
The bad news: When a deceased person’s estate (all of their money and property) has to go through probate (the court-supervised process of distributing a deceased person’s money and property), it can be subject to a variety of costs stemming from attorneys, executors, appraisers, accountants, and courts, as well as potential delays. The good news: […]
Most people think of probate (the process of collecting, managing, and distributing a deceased person’s money and property) as a private process. Wills are filed at the courthouse, and therefore probated estates become a matter of public record and can be seen by everyone. That means your nosy neighbor Nellie can simply go down to […]
Today, many people are using a revocable living trust instead of a will or joint ownership as the foundation of their estate plan. When properly prepared, a living trust avoids the public, costly and time-consuming court processes of guardianship (due to incapacity) or probate (after death). Still, many people make a big mistake that sends […]
