When you hire an attorney for estate planning, help with a loved one’s estate, or any other legal matter you want to make sure that the work gets done as quickly as possible and at the best possible value. Here are some tips to have the most useful and value-oriented law firm experience. The more […]
Imagine a situation where daughter is serving as the agent under mom’s financial power of attorney. Mom’s estate plan provides that her estate will pass 40% to daughter, 40% to son and 20% to mom’s favorite niece. The main asset in mom’s estate is a nice (and very valuable) Westlake home. In order to avoid probate on mom’s death, daughter files a lady bird deed, naming daughter and son as the only beneficiaries of the family home. Does the slighted niece have any recourse?
While it is an honor to be named as an executor of a will or estate, it can also be a sobering and daunting responsibility. Being an executor (sometimes called an administrator) requires a high level of organization, foresight, and attention to detail to meet responsibilities and ensure that all beneficiaries receive the assets to which they are entitled. If you’ve found yourself in the position of “overwhelmed executor,” here are some tips to lighten the load.
Does your estate plan need to include your vacation property? Yes! If you own a vacation home, timeshare, investment property, or any other asset outside of the state where you are domiciled you must make sure it’s included in your estate plan. If you fail to include these in your estate plan, or fail to have an estate plan at all, your heirs will encounter issues, and usually the expense and hassle of court costs, when inheriting these assets.
