Do I Need Both a Will and a Trust

Do I Need Both a Will and a Trust

If you have a have a trust, do you also need a will?  Even if you transfer the majority of your property through a living trust or other estate planning tool, you should also have a will.  Without a will, any property that isn’t passed along to beneficiaries by those...
What is a Will and Do I Need One

What is a Will and Do I Need One

Everyone over the age of 18 (or 21 depending on where you live) should have a will.  Why?  A will is the most important estate planning document there is, and, yes, everyone has an estate! What is a Will? A will tells others where you want your property to go after...
What is the Difference between a Will and a Trust

What is the Difference between a Will and a Trust

At some point, you have more than likely heard the terms will and trust, especially if you are looking at doing some estate planning.  Often, they seemed to be used interchangeably.  However, they do not refer to the same thing at all. Here are some key points to help...
How Long Does the Executor have to Settle an Estate

How Long Does the Executor have to Settle an Estate

Being named an executor is a significant responsibility.  It can also be quite time consuming, depending on the size and complexity of the estate.  Most estates can be settled within a year, but there are definitely exceptions to this. Before closing an estate, the...
What Happens When There is no Will or Trust in Place

What Happens When There is no Will or Trust in Place

If you die without having created and signed a will, it means that you have died ‘intestate.’  If this happens, the intestacy laws of the state where you currently reside dictate the way in which your property is divided after you pass away.  This includes...
What are the Largest Expenses of Death

What are the Largest Expenses of Death

Death is inevitable and, unfortunately, so are the costs associated with it.  In fact, the costs of dying are increasing at even a greater rate than the costs of living. Costs Related to Funeral or Cremation Many people are shocked when they start looking into the...
What is Probate?

What is Probate?

Probate is the court process through which a will is proved valid or invalid.  It is the legal process for administering the estate of the deceased. Steps Authenticating the Last Will and Testament Most states require that a will be filed with the probate court as...