Hard-working, Knowledgeable, Trustworthy.
Probate and Estate Administration
Brenton C. McWilliams
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Are Living Trusts Effective at Avoiding Probate?
What is Incapacity? The general idea of incapacity is a lack of sufficient understanding or capacity to make or communicate responsible decisions stemming from a variety of reasons. In the context of financial decision making, the general idea of incapacity is an inability to manage assets or financial/business affairs. As life expectancies increase, our expectation, and what we typically plan for, is that incapacity would normally manifest from illnesses or cognitive decline brought about by advanced age.
How Often Do You Need to Update Your Estate Plan?
Nothing. Well, not nothing, but certainly less information than most people think they need to begin the process of preparing their will or trust.
For most people, estate planning is easy to procrastinate. A common weapon I see in the estate planning procrastination arsenal is the over-exaggeration of the information needed to prepare an estate plan. With the understanding that it’s easy to procrastinate, one of our goals is to make it easy to get your planning done.
Irrevocable Trusts vs. Revocable Trusts
In estate planning, trusts are used to protect assets and transfer them directly to beneficiaries after your death. Trusts can also be used to avoid the probate process, as well as paying heavy estate taxes. So, which type of trust is right for you? It can be...