Articles Tagged with Estate Planning

As soon as one begins looking into estate planning and creating a plan to leave property to heirs and beneficiaries, it doesn’t take long to run up against the looming possibility of probate. When an estate passes through probate, the state assumes an individual’s estate and distributes it, but at great potential expense to the value of the estate and significantly increasing the amount of time that beneficiaries must wait to receive anything.

For many individuals, estate planning focuses on circumventing the probate process entirely or working to reduce the portion of one’s estate that the process affects and the amount of time it takes to resolve the matter. While avoiding probate is not always possible, it is generally better for all parties involved for anyone with significant assets to consider how they might deal with probate before the state steps in.

If you believe that your estate may have to pass through probate, it is wise to address this issue as soon as you can, with great attention to detail. You may find that you have more legal tools and opportunities available than you realize to protect your estate and your interests.

There are many different challenging situations that come up when you are creating an estate plan. For adults who haven’t had children, there are some unique obstacles that must be faced. In many cases, these individuals might think that they don’t need an estate plan, but this is far from the truth.

All adults need an estate plan. Here are some important considerations for people who don’t have any children who can benefit from the transfer of assets after you die:

You have options for heirs

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