People often assume that wills and trusts are somewhat interchangeable. While both can be effective to transfer assets to loved ones after your death, they have important differences. A will is effective to transfer property that is in your name at your death. Typically, a will must be signed and witnessed by two people. A will “speaks at death,” in other words its provisions are not effective until death. Assets that are in your name are controlled by the will, even if there is a … [Read more...]
What’s the Big Deal about Probate Avoidance?
Are you curious what Jacqueline Kennedy Onassis, universally regarded as one of the world’s most private women, did with her fortune? What about Anna Nicole Smith, Paul Newman, or even Elvis Presley – are you interested in knowing how they distributed their fortunes? Surprisingly, it is relatively easy to find out their dispositive plans for their estates because each one used a Last Will and Testament in their estate plan and a Will must be probated. Documents filed with the Probate Court, … [Read more...]
Will Your Estate Plan Still Work If You Move?
Before the pandemic, Americans were more mobile than ever. When you move, you have to change your address, your voter registration, and all sorts of other things. But, do you need to revise your estate planning documents? Like with many things in law, it depends on your situation. Read on to learn more. … [Read more...]
