In last month’s article I discussed meeting with clients after a death of a loved one, and the process of gathering information regarding the decedent, and said person’s affairs. Once this information is obtained, the issue is whether or not to open a “probate” estate. The main purpose of a probate estate is to prevent fraud, notify creditors, pay decedent’s last bills and taxes/tax returns. The triggering issue is whether the decedent’s net (after liens,
Usually clients meet with us after a loved one’s funeral services are complete and clients are going through the grieving process. Unfortunately, financial and legal matters can not wait. Many clients have extensive knowledge and involvement; some have no information; either they were not involved or the loved one was private with their affairs. What needs to be done financially and legally really depends on so many factors. We provide a free consultation, and meet
Many clients discuss with me my thoughts and their concerns, especially the costs, regarding purchasing long‐term care insurance. In a recent previous article I discussed new innovative long‐term care policies known as hybrid policies that provide long‐term coverage and a death benefit; so, either the client, or their heirs will receive a benefit during life, or death, from the policy. Not a “use it or lose it” traditional policy that may also have future rate
This is a common question I receive from clients when meeting to discuss their estate plans and drafting a Last Will and Testament (“Will”). A spouse has certain inheritance rights in a Will, which include an election and allowance amount, and a spouse’s inheritance rights may be subject to a post or pre‐nuptial agreement that was agreed upon and entered into between a married couple before they came to see me. This article deals with
My last article I discussed how the “no contest” provisions could be inserted in a Last Will and Testament to limit an heir’s ability to contest a document without risking a loss, or reduction of an inheritance. A few more follow‐up tips when I am meeting with clients to avoid rancor and resentment when a child or family member is dealing with the grief and loss of a loved one. **Name the right Personal Representative/Executor/Trustee.