16 Aug 2015
16 Jul 2015
Ways that the Probate Process Deals with DebtThe period immediately following the death of a loved one is frequently emotionally challenging. The last thing a surviving spouse or other heirs need to deal with is persistent or harassing calls from bill collectors due to the probate process. If your loved one has creditors, however, these debts must be settled. Furthermore, most creditors know that they have a limited time during which they can make a claim against the estate during the probate process. For this reason, they are usually quick to follow up once they receive notice that a debtor has passed away.
Debts and the Probate ProcessIf you are the personal representative (executor or administrator) of the estate, it’s important to understand that the estate must pay all creditors before it can make any distributions...
28 Jun 2015
Probate Avoidance StepsA last will and testament is an incredibly important estate planning document that provides a firm foundation for your estate plan. Contrary to what many people believe, however, a will does not help a testator avoid probate. Fortunately, our estate planning attorneys can help you create an estate plan that achieves this goal. So what does it take to avoid probate? The answer is not the same for everyone, which is why it’s critical to work closely with an estate planning attorney at law. That said, here are several documents and accounts you may need to ensure your estate does not have to pass through probate:
TrustsAssets held in a trust at the time of an individual’s death are considered the property of the trust – not the individual. As such, these assets...
18 Jun 2015