- How Much Does Probate Cost in Colorado?
Probate costs in Colorado can vary significantly based on several factors, including the size and complexity of the estate, as well as attorney and court fees. Typically, probate costs in Colorado include court filing fees, which often range from a few hundred to several hundred dollars, attorney fees that may be charged hourly or as… read more…
- How Much Does Probate Cost in Louisiana?
In Louisiana, probate costs can differ widely depending on the estate’s value and complexity. When considering how much probate costs, you should account for common expenses like court filing fees, attorney fees, executor fees and other administrative costs. Even modestly sized estates may pay around $5,000 and costs can rise to five or even six… read more…
- How to Avoid Probate in Connecticut
Avoiding probate can save your beneficiaries time, reduce costs and protect their privacy while your estate is being settled. You can keep your Connecticut estate out of the probate court system by using several strategies. Common approaches include creating a living trust, naming beneficiaries on financial accounts and jointly owning property. Here’s what you need… read more…
- How to Avoid Probate in Nevada
Avoiding probate in Nevada can simplify the process of transferring assets after death, saving time and money for your loved ones. Going through probate, on the other hand, can significantly reduce the size of the estate due to fees and other costs, while delaying the delivery of financial benefits to heirs and beneficiaries. There are… read more…
- Who Owns the Property When There Is a Life Estate?
A life estate provides a way to split the ownership of an asset and is useful for estate planning purposes. By creating joint ownership of an asset such as a family home, a typical life estate allows one person called the life tenant to live in the home and enjoy limited rights of ownership and… read more…
- Does a New Will Revoke an Old Will?
A common question that comes up when preparing an estate is, “Does a new will override an old will?” In short, yes, writing a new will can cancel a preexisting will. However, to reduce the likelihood of problems when settling an estate, a new will should be written correctly to revoke the old will. It’s… read more…
- Does a Life Estate Override a Will?
One common question that can come up in estate planning is: Does a life estate override a will? A will is a legal document outlining how someone’s property is to be distributed after their death. A life estate gives the owner of a property the right to live in or otherwise use the property while… read more…
- How Much Probate Attorneys Can Cost
Like all professional services, an attorney’s fees can vary widely. In general, attorneys will charge based on either an hourly rate, a flat fee or a commission structure. The nature of billing often depends on the nature of the services involved. Probate is no different, although sometimes the fees are influenced by state law, so… read more…
- Estate Planning for Veterans and Their Families
Veterans, like other civilians, should consider making an estate plan to manage and protect their assets, provide for their families and make sure that their benefits and wishes are honored in the event of incapacity or death. Additionally, certain benefits like pensions and insurance should be considered in their estate plans. Working with a financial… read more…
- Top 10 Estate Planning Questions and Answers
Having an FAQ on hand can help you ask the right questions for your estate plan. These common answers and questions could be used to clarify complex concepts, guide decision-making and align your estate plan with your goals and legal requirements. If you need help creating an estate plan, a financial advisor can guide you in… read more…
- Overview of Estate Planning for Blended Families
Blended families face unique challenges when it comes to estate planning, as they must consider the needs and rights of both biological and stepfamily members. Effective estate planning for blended families involves carefully balancing financial and emotional priorities to protect all parties involved. Whether it’s through creating wills, establishing trusts or designating beneficiaries, the goal… read more…
- Estate Planning for an Irresponsible Child
Planning an estate for an irresponsible child can require careful consideration to protect assets and ensure the child’s future well-being. One effective strategy is to set up a trust, which allows you to appoint a trustee to manage funds. Another option is designating a durable power of attorney to handle financial matters, which can provide… read more…
- How to Build Charitable Giving Into Your Estate Plan
You might want to build charitable giving into your estate plan to support causes that you care about, reduce estate taxes and create a lasting legacy of philanthropy. To do this, you must include provisions such as bequests in your will, set up charitable trusts, or designate charities as beneficiaries of retirement accounts or life… read more…
- Guide to Estate Planning for Artists and Art Owners
Artists and art owners face unique estate planning considerations that go beyond traditional plans. These can include managing intellectual property rights, valuing art collections and ensuring the transfer of creative works to heirs. Artists must account for their artistic legacy, addressing copyright protection and potential future earnings from their work. Art owners should focus on… read more…
- Guide to Estate Planning for Doctors and Physicians
Estate planning for doctors and physicians involves unique considerations due to their high earning potential, complex asset structures and potential liabilities. Balancing patient care responsibilities with financial planning can be challenging, but creating a comprehensive estate plan can safeguard assets, reduce tax burdens and provide for loved ones. Physicians often face additional concerns, such as… read more…
- How to Create an Estate Plan That Includes Your Pets
For those working on an estate plan, the fate of their beloved animal companions might also be a consideration. By creating an estate plan specifically for your pets, you can help protect their well-being and maintain continuity of their care in the event of your passing or incapacity. If you’d like someone to walk you… read more…
- Succession and Estate Planning for Farmers
Farmers face unique challenges and opportunities when it comes to estate planning, such as succession planning and land ownership or preservation, as well as the management of agricultural assets. Estate planning for farmers can help make the transition of farm ownership and management smooth from one generation to the next. By addressing potential challenges ahead… read more…
- Estate Planning for Seniors: What to Know
Estate planning for seniors involves the careful organization and management of assets and personal affairs so that their distribution aligns with their goals and needs. This process encompasses creating wills, establishing trusts, assigning powers of attorney and planning for long-term care. By addressing these issues, you can secure your legacy, provide for your loved ones… read more…
- Guide to Estate Planning for Your Elderly Parents
Assisting your elderly parents with their estate planning in their twilight years can help them handle their assets and personal affairs before anything happens. The process will likely involve making decisions about how their property, finances and health care decisions will be addressed. Taking care of these issues early can provide peace of mind for… read more…
- Estate Planning for Young Families: What to Know
Estate planning is typically thought of as an end of life strategy. And, perhaps, young families might think that it is unnecessary. But, it’s an important step to secure the financial future of your family. This can involve creating legal documents to protect your assets, providing for the future of your children and ensuring that… read more…
- Estate Planning for Special Needs Adults and Children
Estate planning for special needs adults and children involves specific considerations that go beyond traditional wealth distribution. These can also include medical care, financial support and guardianship. One challenge is to preserve eligibility for government benefits. And creating a special needs trust, which is a personalized financial strategy, is a common solution. Working with a… read more…
- Guide to Estate Planning for Your Children
Estate planning for children involves more than just distributing assets; it’s about securing your children’s financial future and well-being. By creating a comprehensive estate plan, you can appoint guardians, set up trusts, and make healthcare decisions that reflect your values and wishes. Thoughtful planning helps minimize legal complications and financial burdens, especially by avoiding some… read more…
- How to Get a Medical Power of Attorney in Florida
A medical power of attorney is a legal document empowering someone else to medical decisions on your behalf in case you are unable to. A medical power of attorney can save your family from having to make hard decisions about your medical care, as well as making sure your wishes are followed. You can either… read more…
- How Does Life Insurance Create an Immediate Estate?
Life insurance can create an immediate estate to help you maintain financial stability for your loved ones after your passing. This estate planning strategy can act as a safety net, especially if the deceased was the primary breadwinner, helping cover immediate expenses like funeral costs, debts and daily living expenses. Unlike other assets, life insurance… read more…
- I Want to Give Money to My Son and His Wife. How Much Can I Give Without Triggering Taxes?
Let’s say that you’re an individual who wants to give money to two people, your son and his wife. Maybe this is to help with a wedding, down payment for a home or building a family. You can likely give away a good amount of money without incurring any taxes, but there may be some… read more…