Estate Planning, Probate
ruaeople sometimes deed their property to their children while still alive in order to make sure the home goes to the kids after the parent has passed. However, this shortcut often comes with significant unanticipated risks/costs. When a homeowner dies, the home...
Probate
“Probate” is a term most have heard but don’t know what it means. Some know it has something to do with a Will, but don’t know how. More than a few have been told it is something to avoid, but aren’t sure why. What is probate? Probate is a process to help ensure that...
Estate Planning, Probate
Estate Planning, Probate
I often ask attendees of my presentations if they have been told “probate” is something to avoid. Invariably, I see several heads nodding “yes.” Many are not sure why they are supposed to avoid probate. However, the most common reason I am told is that probate is...
Probate
As I have discussed in the many other articles, many people have been told they should avoid probate. Usually, they are told they need to avoid probate because of its cost. (Interestingly, most people have no idea what probate actually costs or what it should...
Estate Planning, Probate
Perhaps because they do not understand the consequences, I have seen many people take “shortcuts” to avoid probate. Last column, I gave the example of parents who transfer their home to a child so that the home could be sold after the parents pass, without going...
