Archive for May, 2008
What if there is no will, and no estate plan?
All states have a default will for people who die intestate, which means to die without a will. Assets that have named beneficiaries or are owned jointly are not affected. Normally the default will distributes the assets with the following priority:
spouse and children
parents and siblings
other relatives: grandparents, aunts, uncles, nieces, nephews, cousins
the state if no [...]
Changes in Estate Law in 2010
In 2001 Congress passed a sweeping tax reform bill that includes changes to estate taxation. Estate tax is repealed in 2010, but due to budget constraints Congress only ended the tax for one year. Unless further legislation is passed, estate tax will return in 2011. This makes estate planning all the more difficult - and [...]
Preparing for a Living Trust lawyer’s visit
So you’ve decided to execute a living trust - that’s good. Here are some things to consider before you visit an attorney to draw up the documents.
If you do not have dependent children the process is fairly simple. The lawyer will interview you to establish the successor trustees (who do you trust to [...]
Avoiding Probate with a Trust
If you haven’t heard yet - probate is difficult and expensive. Probate can take a year or more to settle with probate fees sometimes charged as a percentage of the assets. The standard estate plan seeks to avoid probate by establishing a living trust. A trust is usually drawn up by a lawyer, and has [...]
Primary Checking Account
In our experience, the primary checking account is a point of great assistance or a major hassle. In an ideal circumstance, the primary checking account of the deceased is active and useful to the executor. Because my sister was a co-signer on my mother’s account she could write checks for early costs to the estate. [...]
Welcome to Estate Self Help
After going through the loss of both parents and one in-law, I realized two things: there is very little information online, and the tips provided by family and friends are incredibly valuable. The blog exists to capture this advice, to organize it and make it accessible, and to bring some ease to a difficult situation [...]