- Completing a Small Estate Affidavit in Michigan
A small estate affidavit can simplify the process of transferring property when someone dies. This legal document allows heirs to bypass probate, which could save both time and money. To qualify for a small estate affidavit, the estate must be valued under a certain limit, you will need a death certificate and proof that the… read more…
- Completing a Small Estate Affidavit in Arizona
Completing a small estate affidavit in Arizona can speed up and simplify the process of managing a deceased person’s estate without the need for formal probate. It can be used only for estates with a relatively low total value, and also has to meet other criteria. When it is allowed, this process can save significant… read more…
- Completing a Small Estate Affidavit in Washington
In the state of Washington, the small estate affidavit process offers a streamlined method for transferring assets of a deceased person without going through the full probate process. This legal tool can save time, reduce costs and simplify the handling of an estate as long as the total value of the assets falls below a… read more…
- Completing a Small Estate Affidavit in New York
Completing a small estate affidavit in New York is a streamlined way to settle a deceased person’s estate when it falls below a certain monetary threshold. This process, also known as a Voluntary Administration, is less costly and time-consuming than formal probate, making it ideal for estates with a value of $50,000 or less. Though… read more…
- How Limited Guardianship for Adults Works
When an adult is unable to make all decisions independently, whether due to physical or mental incapacity, limited guardianship may be beneficial. Limited guardianship for adults is a legal arrangement that grants a guardian authority to make specific decisions on behalf of an individual. Meanwhile, this individual, also known as the ward, retains some independence.… read more…
- How Limited Guardianship Works in Michigan
Limited guardianship in Michigan is a legal arrangement where a guardian is appointed to make certain decisions on behalf of another individual who can’t fully care for themselves. In Michigan, the process of establishing limited guardianship involves filing a petition in probate court, where a judge evaluates the necessity of guardianship and outlines the specific… read more…
- What Is Limited Guardianship and How Does It Work?
A limited guardianship is a legal arrangement where a guardian is appointed to assist an individual, known as the ward, with specific areas of decision-making while allowing the ward to retain some level of autonomy in other areas. Unlike full guardianship, which grants the guardian broad authority over the ward’s life, limited guardianship is tailored… read more…
- What Is Short-Term or Temporary Guardianship?
Short-term or temporary guardianship is a legal arrangement in which a designated guardian is given the authority to care for a child for a specific period. This type of guardianship is often used in situations where the child’s parents are unable to provide care due to circumstances such as illness, military service or emergencies. Unlike permanent… read more…
- 9 Estate Planning Strategies to Consider
Estate planning can help you manage your assets in life, and minimize taxes and legal complications for your beneficiaries after death. Comprehensive strategies typically include wills to distribute assets upon death, trusts to manage assets for beneficiaries, and powers of attorney to designate individuals who can make financial and healthcare decisions on your behalf. If… read more…
- How to Avoid Probate in Maine
Avoiding probate in Maine can help those looking to streamline the transfer of assets after their passing. Probate can be a lengthy and costly process, involving court supervision of the estate’s distribution. Understanding how to avoid probate in Maine can help individuals ensure that their assets are transferred smoothly to heirs without unnecessary delays or… read more…
- How to Avoid Probate in Alaska
For many individuals who plan on transferring assets after their passing, it’s important to avoid probate in Alaska. Probate can be a time-consuming and costly process involving the court’s supervision when it comes to distributing the deceased’s estate. By understanding how to avoid probate in Alaska, individuals can ensure that their assets are transferred directly… read more…
- How Much Probate Costs in Utah
The process of going through probate can incur fees and other expenses, which can impact the estate’s value. Knowing how much probate costs in Utah can help executors, administrators and beneficiaries plan and manage the estate. Or, if you’re setting up an estate, maybe you decide to explore options that will help your heirs avoid… read more…
- How Much Probate Costs in Pennsylvania
Probate is the legal process through which a deceased person’s assets are distributed to their beneficiaries. Whether you’re preparing to manage the estate of a loved one, or want to set up your own estate to avoid probate, it’s important to understand the associated costs. How much probate costs in Pennsylvania varies depending on the… read more…
- How to Fill Out a Small Estate Affidavit Form
Filling out a small estate affidavit form can simplify the process of transferring a deceased person’s assets without the need for a lengthy probate procedure. This form is typically used when the estate’s value is below a certain threshold, which varies by state. To complete the small estate affidavit form, you’ll need essential details about… read more…
- Completing a Small Estate Affidavit in Colorado
Completing a small estate affidavit in Colorado allows heirs to claim a deceased person’s assets without the need for a lengthy probate procedure. This is available for many Colorado estates valued at or below $82,000 in 2024 and involves filling out a specific form and providing necessary documentation, such as a death certificate. The small… read more…
- How Much Does Probate Cost in Colorado?
Probate costs in Colorado can vary significantly based on several factors, including the size and complexity of the estate, as well as attorney and court fees. Typically, probate costs in Colorado include court filing fees, which often range from a few hundred to several hundred dollars, attorney fees that may be charged hourly or as… read more…
- How Much Does Probate Cost in Louisiana?
In Louisiana, probate costs can differ widely depending on the estate’s value and complexity. When considering how much probate costs, you should account for common expenses like court filing fees, attorney fees, executor fees and other administrative costs. Even modestly sized estates may pay around $5,000 and costs can rise to five or even six… read more…
- How to Avoid Probate in Connecticut
Avoiding probate can save your beneficiaries time, reduce costs and protect their privacy while your estate is being settled. You can keep your Connecticut estate out of the probate court system by using several strategies. Common approaches include creating a living trust, naming beneficiaries on financial accounts and jointly owning property. Here’s what you need… read more…
- How to Avoid Probate in Nevada
Avoiding probate in Nevada can simplify the process of transferring assets after death, saving time and money for your loved ones. Going through probate, on the other hand, can significantly reduce the size of the estate due to fees and other costs, while delaying the delivery of financial benefits to heirs and beneficiaries. There are… read more…
- Who Owns the Property When There Is a Life Estate?
A life estate provides a way to split the ownership of an asset and is useful for estate planning purposes. By creating joint ownership of an asset such as a family home, a typical life estate allows one person called the life tenant to live in the home and enjoy limited rights of ownership and… read more…
- Does a New Will Revoke an Old Will?
A common question that comes up when preparing an estate is, “Does a new will override an old will?” In short, yes, writing a new will can cancel a preexisting will. However, to reduce the likelihood of problems when settling an estate, a new will should be written correctly to revoke the old will. It’s… read more…
- Does a Life Estate Override a Will?
One common question that can come up in estate planning is: Does a life estate override a will? A will is a legal document outlining how someone’s property is to be distributed after their death. A life estate gives the owner of a property the right to live in or otherwise use the property while… read more…
- How Much Probate Attorneys Can Cost
Like all professional services, an attorney’s fees can vary widely. In general, attorneys will charge based on either an hourly rate, a flat fee or a commission structure. The nature of billing often depends on the nature of the services involved. Probate is no different, although sometimes the fees are influenced by state law, so… read more…
- Estate Planning for Veterans and Their Families
Veterans, like other civilians, should consider making an estate plan to manage and protect their assets, provide for their families and make sure that their benefits and wishes are honored in the event of incapacity or death. Additionally, certain benefits like pensions and insurance should be considered in their estate plans. Working with a financial… read more…
- Top 10 Estate Planning Questions and Answers
Having an FAQ on hand can help you ask the right questions for your estate plan. These common answers and questions could be used to clarify complex concepts, guide decision-making and align your estate plan with your goals and legal requirements. If you need help creating an estate plan, a financial advisor can guide you in… read more…