avoid probate court

Does a Will Avoid Probate? False Facts Friday Edition

Clients are often unpleasantly surprised to learn that having a Last Will and Testament does not negate the need for probate. And they are sometimes annoyed when they learn that even though they are named as the Executor in a Will, that alone does not give them authority to access the decedent’s assets. Yet both of these statements are true.

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divorce plan and estate planning

Estate Planning and Divorce

Even though most people don’t plan on getting a divorce when they first tie the knot, it is a reality for many couples. While we do not practice family law here at Reed Wilson Case, and cannot help with a custody schedule, those crucial estate planning documents that you may or may not already have…

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beneficiary and heir difference

Beneficiary Vs. Heir – What Is The Difference?

Whether you are putting together your own Will or stand to receive assets left to you by someone else, you may wonder what the actual difference is between a beneficiary and an heir. Some people may use the terms interchangeably, however, heirs and beneficiaries are not the same thing. Not all heirs are beneficiaries, and…

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inherited property

So You Inherited a Property. Now What?

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…

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What Does Per Stirpes Mean

What Is Per Stirpes? “Per stirpes” is a legal term (which in Latin means “by branch”) usually included in the Last Will and Testament or beneficiary designations for individual retirement accounts (IRAs). By branch, as in down the family tree branches. If a beneficiary (someone who would receive an inheritance), predeceases (dies before) the testator…

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