FAQs About Estate Planning
What is probate?
Probate is the state’s predetermined legal process of administering a deceased person’s estate. It involves validating the will, paying debts and taxes, and distributing the remaining assets to the rightful heirs. Probate can be lengthy and potentially costly.
How can probate be avoided?
Proactive Estate Planning ensures a thought-out, well-crafted plan that will give directions tailored to our client’s wishes and avoid defaulting to probate.
What are some common mistakes that occur when writing a will?
- Getting proper signatures: A will is required to be signed by the testator and at least two non-beneficiary witnesses.
- Using vague or unclear language, which can lead to challenges and disputes.
- Oftentimes, people forget to update their estate plan after a major life event, like marriage, divorce, or the birth of a child. These life changes should be reviewed and updated in your will or trust.
- Not taking account of all property: To avoid intestacy issues, ensure that all assets are accounted for.
- Ignoring State Laws: Each state has specific requirements for wills, so it’s important to comply with local laws.
Can I include my pets in my will?
- Yes, you can include your pets in your will. This may include setting up a pet trust to provide funds and instructions for your pet’s care, or adding a clause in your will to designate caregivers to take care of your pet after you pass away.
Who may need a Trust and Estate Litigation Attorney?
- If you are the beneficiary of a trust or estate and you feel other beneficiaries, trustees, or executors have violated your rights, then you should consider legal representation to protect your rights.
- When there is fraud or undue influence in the execution of a trust or will, or if you feel that undue influence or fraud may have played a role in your exclusion from a trust or will or unequal shares among beneficiaries, seeking early legal counsel is highly recommended.
- When you have an uncooperative trustee that refuses or has failed to communicate, engages in theft or the fraudulent transfer or assets, or executes questionable investment transactions, a trust and estate litigation attorney can help.
- If you are a trustee or executor facing a challenge from beneficiaries, or you are the beneficiary of a will or trust and suspect that your trustee or executor has wrongfully taken assets, has a conflict of interest or is exhibiting beneficiary bias in their duties, then you should seek an experienced attorney.
