Celebrity estate planning news is always of interest to people, and we have been keeping a close eye on the dispute that has surrounded the Sherman Hemsley estate.You may recall that Hemsley, the comedic actor who portrayed George Jefferson on the classic sitcom The Jeffersons, passed away back in July. Unfortunately he was not promptly laid to rest. A fellow named Richard Thornton challenged Hemsley's will and the matter was hung up in probate for months.There was a last will executed by … [Read more...]
Our Report Explains Dangers of DIY Estate Planning
The process of estate planning is something that should be undertaken with the benefit of professional guidance. There are some things that you can do on your own with a little bit of information that you obtain over the Internet, but executing legally binding documents is not one of them.Unfortunately there are those who look for easy answers. If you are among this group you will be able to find websites that sell generic last will documents. The suggestion is that you just fill in the blanks … [Read more...]
Do You Want to Allow Public Access to Your Final Affairs?
Would you want the general public to have access to information regarding everything that took place while your estate was being administered? A whole lot of people would say no for a number of different reasons.First there is just the general idea of privacy. Why should anyone and everyone be able to pry into your final affairs, even people that you do not know?In addition to this some people have very specific personal reasons why they would not want anyone to be able to access this … [Read more...]
Link Executor to Probate Lawyer
The process of estate planning can seem to be conceptual as you settle on your intentions and go about having the appropriate documents executed to state your wishes in a legally binding manner.However, when you die, having someone take action will be necessary to make your wishes become a reality. Depending on the complexity of your estate and the nature of your assets there could be a great deal of business that must be conducted before your heirs actually receive their inheritances.When … [Read more...]
Early Winehouse Estate Reports Prove To Be False
It is always especially sad to hear about someone passing away at a young age, and this was the case with the singer Amy Winehouse. The British songstress died last July at the age of 27, joining the ranks of music stars like Jimi Hendrix, Jim Morrison, and Kurt Cobain who passed on at the same age.At the time the British tabloids were reporting that Amy Winehouse had a last will in place that excluded her ex-husband Blake Fielder-Civil, an individual who is serving prison time. She was said … [Read more...]
Asset Erosion During Probate
If you want to get the maximum amount of money into the hands of your loved ones after you pass away, you need to consider the asset erosion that can take place during the probate process.Your estate is going to have to be probated if you use a last will to direct the distribution of your resources to your heirs. Probate provides an opportunity for disgruntled parties to challenge your wishes, and it is also set up to allow for creditors and claimants to step forward seeking satisfaction.In … [Read more...]
Choosing An Executor With Probate In Mind
When you use a will as your primary vehicle of asset transfer your estate must pass through the process of probate. This is an interim during which the probate or surrogate court determines the validity of the will and supervises the administration of the estate. There are many tasks that must be tended to during the probate process to make your wishes as stated in writing an actual reality, and these duties fall into the hands of the executor that you name when you are drawing up your … [Read more...]
Avoid Probate With A Revocable Living Trust
A lot of people are under the impression that the process of estate planning revolves around drawing up a last will. While it is true that the last will is the most well known and commonly used vehicle of asset transfer in the field of estate planning it is not your only option and in many cases it is not the best one.The primary reason why people often decide to go another route is because your estate must pass through the process of probate when you transfer your assets to your heirs with a … [Read more...]
Why Do Some People Avoid Probate?
The most common vehicle of asset transfer in the field of estate planning is the last will, but it is important to understand that you do have other options. Why would someone want to seek an alternative to a last will? Depending on the exact nature of your assets and the specificity of your wishes there could be a number of reasons. But for most people probate avoidance would be the motivation for seeking another way to transfer assets to your loved ones.So this brings up the question of why … [Read more...]
