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How to Avoid Probate
Probate is the court-supervised process of winding up a decedent’s personal and financial affairs. During probate, a Personal Representative is appointed and charged with collecting the decedent’s assets, paying their bills, and distributing their property to the proper heirs. Having your loved one’s property tied up in probate can be stressful, expensive, and often unnecessary, if you know how to avoid it.
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When is Probate Necessary?
Probate is the court process to determine who receives assets owned by someone who has died. The court appoints a personal representative (or executor) to take charge of the estate, pay all debts and taxes and, ultimately, distribute the remaining assets to the heirs.
There are occasions when the probate process can be avoided. This typically happens when assets have been transferred prior to death or proper beneficiary designations have been made such as a POD (Payable on Death). ">Continued
General Power of Attorney Form
How to Prepare for the Death of a Loved One
Coping with death is never easy to do, and no matter how much you prepare, it's always a very emotional and sad time. To help you prepare for your loss, here are some tips. ">Continued
What's the Difference between Medicare and Medicaid
Because of their similar names, Medicare and Medicaid are often confused with one another. However, the two programs are actually quite different. While both are government-sponsored programs designed to cover health care costs, each program applies to different groups of people and has different eligibility requirements. It is important to be aware of these differences so that you can know what benefits are available to you and your loved ones. ">Continued
Estate Planning for Beginners: Creating a Will
Most folks already know that the main purpose of a will is usually to dispose of your assets and personal effects. In its most basic form, a will should include these important parts:
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Don't Die without a Will - It Can Cost You Big Time
With all the free and inexpensive resources available to create a Will why do so many refuse to do so? It may be one of the best gifts you can give to yourself and loved ones. They can ensure that all your bases are covered and that your Will and Estate plans are properly completed.
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