If you are going to die —and we all are—you might as well do it right. If you die without having made a will, who gets what is left entirely up to your state’s intestacy laws to decide. If you don’t know what that means or what the effect of the intestacy laws would be [...]
When someone dies, we talk about them having died “testate” or “intestate.” If a person dies “testate” that means that they had a will. If they die “intestate,” they died without a will. Why does it matter? Because if you die without a will, the law decides which one of your relatives will get your [...]
In the practice of trusts and estates, we love wills. But we love trusts even more. Why? Because trusts are one of the most flexible estate planning tools we have. Trusts and Estate Planning. Trusts can protect your property, save on estate taxes, and help you avoid probate. Trusts can do many things and they [...]
In estate planning, much depends on making sure that your will is correct in all respects and error-free. So here are some things to keep in mind when it comes to writing your will. Wills Are Critical Documents. Your will is one of the most important documents you will ever execute in your life. A [...]
Decisions, decisions, decisions. You can leave your home to your heirs through your will, of course. Or, you can use a beneficiary deed. Choosing to Leave Your Home Through Your Will. Your Last Will and Testament (“Will”) determines how your property is divided when you die. You can (and most people do) leave your real [...]
Here at Esser, Bradley & Khalsa, PLLC, we encourage everyone to get a professionally-drafted will and to never die without a will (“intestate”). But we have to admit, there are times when you might as well have no Will at all. There are times, not often mind you, when having a will is useless. Which [...]
One of the things you want to try to avoid when you die is having someone contest your Will. (The other thing is probate. But that is the subject of other posts.) Why is that, you ask? Because will contests embroil your estate and family members in bitter and often prolonged legal battles. They can [...]
Ever wish you could secure an income for life, avoid taxes and contribute to your favorite charity at the same time? Well, you can. Here is how. Consider Setting Up a Charitable Remainder Trust. Talk to your estate planning attorney about setting up a charitable trust. A charitable remainder trust is an estate planning tool [...]
According to research, over 95.5 million people have some kind of step-relationship. Given the high divorce rates, this is not surprising. If you are divorced, widowed, or remarried, it is very important that your estate planning documents are carefully drafted by knowledgeable trusts and estates counsel. Why not just do it yourself? Because in a [...]
One very important tool in trusts and estates practice is that of guardianships. What is a Guardianship? Guardianships come into play when a person is incapacitated or disabled. Incapacity. For example, let us say you do not have a will or a living will, or any of the necessary healthcare documents or powers of [...]
