With the Biden administration officially starting their term, everyone should expect changes to estate planning law in 2021. In this article, we explain these changes and options like SLAT that can help with probate and estate planning.
In some families, loans and monetary gifts are presented to the children and often times this may lead to dispute if not kept equal. If it's not clear whether the money is a loan or a gift, conflicts can arise if the parent dies and their estate enters probate. If it's not in writing, the beneficiaries are left to figure it out on their own, or the court must step in and decide.
No-contest clauses, also known as in terrorem “by way of threat” clauses, are provisions in wills that provide that if a beneficiary of the will “a legatee” challenges the validity of the will, he or she will forfeit his or her inheritance or receive only a nominal inheritance.
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In some families, loans and monetary gifts are presented to the children and often times this may lead to dispute if not kept equal. If it's not clear whether the money is a loan or a gift, conflicts can arise if the parent dies and their estate enters probate. If it's not in writing, the beneficiaries are left to figure it out on their own, or the court must step in and decide.
In cases in which probate is required, the executor of the estate or the next of kin cannot take the actions necessary to administer the estate without the authority granted by the probate court. Probate is a complicated process that requires executors to prepare forms, meet deadlines, keep records, generate reports, submit filings to the court, and serve notices to creditors, heirs and local newspapers.
Choosing a trustee is, perhaps, the most difficult decision you must make when completing an estate plan. Do you choose a family member or friend to be trustee? Why would you want a professional trustee? What should I look for in a trustee? What are the advantages of choosing a professional trustee?
Make a consultation reservation online using our online scheduling tool.
Make a consultation reservation online using our online scheduling tool.
Our team of friendly professionals are standing by to take your call now at (630)324-6666.
Our team of friendly professionals are standing by to take your call now at (563) 503-6910.
In some families, loans and monetary gifts are presented to the children and often times this may lead to dispute if not kept equal. If it's not clear whether the money is a loan or a gift, conflicts can arise if the parent dies and their estate enters probate. If it's not in writing, the beneficiaries are left to figure it out on their own, or the court must step in and decide.
In cases in which probate is required, the executor of the estate or the next of kin cannot take the actions necessary to administer the estate without the authority granted by the probate court. Probate is a complicated process that requires executors to prepare forms, meet deadlines, keep records, generate reports, submit filings to the court, and serve notices to creditors, heirs and local newspapers.
Choosing a trustee is, perhaps, the most difficult decision you must make when completing an estate plan. Do you choose a family member or friend to be trustee? Why would you want a professional trustee? What should I look for in a trustee? What are the advantages of choosing a professional trustee?
In some families, loans and monetary gifts are presented to the children and often times this may lead to dispute if not kept equal. If it's not clear whether the money is a loan or a gift, conflicts can arise if the parent dies and their estate enters probate. If it's not in writing, the beneficiaries are left to figure it out on their own, or the court must step in and decide.
In cases in which probate is required, the executor of the estate or the next of kin cannot take the actions necessary to administer the estate without the authority granted by the probate court. Probate is a complicated process that requires executors to prepare forms, meet deadlines, keep records, generate reports, submit filings to the court, and serve notices to creditors, heirs and local newspapers.
Choosing a trustee is, perhaps, the most difficult decision you must make when completing an estate plan. Do you choose a family member or friend to be trustee? Why would you want a professional trustee? What should I look for in a trustee? What are the advantages of choosing a professional trustee?
Our team of friendly professionals are standing by to take your call now at (630)324-6666.
Our team of friendly professionals are standing by to take your call now at (563) 503-6910.
Monday to Friday
9am - 5pm
Monday to Friday
9am - 5pm
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