What is the Typical Probate Process? What are the Best Sources of Probate Advice? What is an Ancillary Probate? How can I Avoid Probate? What is a Probate Beneficiary? Discussion Comments WiseGeek, in your inbox Our latest articles, guides, and more, delivered daily. ...
The trustee plays a crucial role in the management and distribution of a trust. Find out what the trustee's responsibilities are and how to choose one.
Clients who wish to pass these assets to someone other than the other account owners must establish a TIC ownership arrangement. If all owners pass away simultaneously, the account may end up in probate, delaying account access. If a joint brokerage account is between non-spouses, contrib...
Wills and probate: What difficulties arise when a person dies with assets in several jurisdictions?No AbstractSlater, S.NEW LAW JOURNAL
Estate planning:A principal may use an irrevocable power of attorney to ensure that their agent can effectively and continually manage the assets within anirrevocable trust. Loans:A financial institution may require an irrevocable power of attorney to be drafted in order to secure a loan. ...
If you become incapacitated, injured or unable to act for yourself, your spouse or family members cannot access your bank accounts or other financial assets without an enduring Power of Attorney, POA,
"Introduction to Probate in BC" - article revised 2013.06.12 Anticipated changes to Wills and Estates Law - in 2014 briefoverviewof some anticipated changes in the new WILLS, ESTATES & SUCCESSION ACT to come into effect in 2014. Article contribution to Lawyers-BC.com: "HOW TO WRITE AN AFFID...
As a reminder, a revocable trust is an estate planning tool that allows assets to be passed to beneficiaries outside of probate. Trust settlors must be 18 years old and mentally competent. Also, since revocable trusts are usually established to bequeath assets, settlors should own property and...
Any assets not retitled in the name of the trust are considered subject to probate. As a result, if you haven't specified in a will who should get those assets, a court may decide to distribute them to heirs whom you may not have chosen. ...
When a spouse dies, their assets are moved into the trust. A general power of appointment, an estate trust, and a QTIP trust are three types of marital trusts. A couple with a martial trust allow their heirs to pay less in estate taxes and avoid probate court. ...