
What do you understand by the term ‘estate planning?
Estate planning is deciding how a person’s wealth will be preserved, managed, and distributed after death. It also considers the management of personal assets and
Home » What is Estate Planning
Estate planning is deciding how a person’s wealth will be preserved, managed, and distributed after death. It also considers the management of personal assets and
What is Probate? It is the examination and transfer of an estate’s assets that belonged to a deceased person in the past. A probate court
What is a Probate lawyer? There’s an old saying, ‘you can’t take it with you when you die.’ Therefore, someone has to be there to
An inheritance tax (IHT) is imposed on property that has been gifted or inherited. Even though IHT is charged upon death, it may also be
Introduction Wills by lawyers are usually best. But wills created and signed without the help of a lawyer will not be automatically invalidated. To be
Generally, a probate lawyer deals with the process of estate administration after the death of a person. Probate lawyers also handle estate planning, powers of
An estate surrounded by gardens, outbuildings, pools, farmland, woods is called a large estate. The administration for settling large estate probate is known as large
When people talk about “Estate Planning” they often think that it is only for the wealthy. We think that most people are living with the
Trusts are legal entities that will assume ownership of or own some assets after a specific triggering event. However, who has the right to be
Introduction An Estate of a person includes everything they own. From one’s home to vehicles, bank accounts, insurance, financial investments, properties, and other personal belongings.
A trust might be challenged for many of the same reasons as a will, such as a lack of testamentary ability, improper influence, or required
Probate is the legal process necessary to deal with one’s property, assets, money, and any other last wish after death. Executors issue the probate of
What is trust? A trust is an estate planning tool that minimizes the estate and inheritance tax and saves your assets from probate; in a
When someone passes away, probate (assuming they left a will) and estate administration are typically used to wrap up the deceased’s financial affairs. Moreover, in
A Health care proxy or healthcare surrogate makes medical decisions on your behalf. A healthcare proxy will make sure the doctors follow your wishes. It
Estate planning is something that is required for the safety and happiness of our family. Reports have suggested that estate planning doesn’t just secure your
The need for the probate process occurs when a person dies and leaves his assets behind. Accepting the death of your loved ones is difficult,
Introduction A will is an important document that designates who will be in charge of your estate and belongings in the event of your death.
Suppose a person passes away leaving behind his/her last will mentioning how his/her assets will be distributed among his/her family members. The beneficiaries will not
There are several questions to consider when writing a will. It would not be easy to anticipate every inquiry an estate planning lawyer needs to
You can save on a significant amount of time and money if you plan well in advance. This planning should be about what will happen
Introduction The attorney will handle the will, probate, and other legal issues that arise. The probate attorney will also help with administering the estate and
Introduction There are generally two types of probate. The first is the probate of a will. The second is a proceeding to administer the estate
What is Estate planning? Estate planning is deciding who will get your assets, estate, and personal belongings upon death. This includes planning how much of
Here is a few best way to leave an inheritance strategy to take into account, along with some considerations you should make as you decide
Each state has laws governed by procedures for creating, canceling, and providing the last wills and testaments. A testator, who creates a choice, typically has
In a trust, the trustor, or first party, gives the trustee the power to hold title to assets for the benefit of the beneficiary, or
Probate is the process of distributing the assets of a person to his/her beneficiaries upon his/her death under the court supervision, no matter whether he
Instead of the trust itself paying the tax, beneficiaries of trusts often do so on the distributions they get from the trust’s revenue. Nevertheless, as