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.
A caregiver agreement is a legal document that outlines the terms of care between a caregiver and the care recipient. Are you a caregiver or care recipient? A caregiver agreement can help protect both parties and ensure clear expectations. Learn why it’s important and how to create one. Most adult children feel the need and…
What Is Per Stirpes? The meaning of “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…
As a soon-to-be parent, you want to make sure that your little human is completely taken care of, from the minute you hear that first cry. The preparations begin months before the arrival of your bundle of joy, and the internet is full of all kinds of advice for parents, checklists, to-dos, tips & tricks,…
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 manage 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…
