Many families mistakenly believe that receiving an inherited property is as simple as listening to a reading of the Will and then that property magically belongs to you and you can do whatever you want with it. Sorry to burst that bubble, but a reading of the will is not a real thing – that’s…
Britney Spears’s legal fight to take back control over her personal and financial affairs has put a spotlight on the issue of guardianship. While full guardianship may be necessary for many individuals who are incapable of managing their own affairs due to dementia or intellectual, developmental or mental health disabilities, the Spears case underlines the…
When someone who owns individually-titled assets with no beneficiary designation passes away, with or without a will, the deceased person’s estate has to go through probate. The fiduciary (called an executor if there is a will, and an administrator if there is not) is in charge of paying off creditors and distributing the inheritance to…
What Is a Living Trust? A living trust is an agreement in which a settlor (the person who creates the trust) appoints a trustee, to manages the assets within the trust, on behalf of the beneficiary or beneficiaries named in it. The beneficiary can be you or anyone else you name. It’s called a “living…
If you are like most people, just the word Probate sounds so menacing that it can make your head spin. What is probate? Do you always go through probate when someone dies? Which assets get probated and which ones don’t? Do I need a probate attorney? How much does it cost? How long will it…
If you’ve never purchased a property, you may not know what I’m talking about. Both Joint Tenancy with right of survivorship and tenants-in-common dictate how a property is owned and who inherits it when one or more of the owners passes away. In Connecticut, tenancy in common is the default interest for a deed with…
