When a person passes away and their minor children inherit assets, the children are not simply handed the money. They are legally not old enough to handle it. So, the court appoints a “conservator” or “guardian of the estate” to manage the child’s assets. The conservator pays a lawyer to handle the affairs of the […]
Read More»“A source with firsthand knowledge of the discussions about Prince’s estate said the initial meeting between the siblings was contentious and ended in shouting.” Once again, a celebrity has passed away without an estate plan and disaster will ensue as Prince’s estate goes through probate, the court process of passing title to his heirs. http://www.cnn.com/2016/05/02/entertainment/prince-estate/index.html […]
Read More»“In his Will, he left me enough money to pay for his tombstone. Ha. And I had him buried at sea.” – Scrooge, Mickey’s Christmas Carol Why ask someone else to fulfill your wishes when you can do it yourself through your estate plan? It is a common estate planning error to leave money to […]
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We thought we’d share with you why Probates are so Awesome. Aside from avoiding Probate because the Trust owns all of the assets. Avoids Probate: The Trust owns everything Trust assets can be removed at any time The whole Trust can be undone (revoked) at any time As much control over Trust property as an […]
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