This post is not meant to invoke your emotion of the death of Whitney Houston or her daughter, but merely as an example of lack of adequate estate planning. Whitney Houston’s estate was worth approximately $20 million when she died – plenty to meet the needs of her...
After a loved one dies, her estate must be settled. While most people want the settlement process to be done ASAP, probate can take between 18 and 24 months. Yes, you heard that right. The time delays create unnecessary stress. 5 Reasons Probate Takes So Long There...
The bad news: probated estates are subject to a variety of costs from attorneys, executors, appraisers, accountants, courts, and state law. Depending on the probate’s complexity, fees can run into tens of thousands of dollars. The good news: probate costs can be...
This information will be helpful if you are either expecting an inheritance or expect to leave money to your loved ones. A 2012 study by Ohio State researcher Jay Zagorsky found that about one-third of Americans who receive an inheritance have negative savings within...
Most people think of probate as a private process. However, since wills are filed at the courthouse, probated estates become a matter of public record. That means your nosey neighbor Nellie can simply go down to the courthouse or hop online and find out about your...
Many people now use a revocable living trust instead of a will or joint ownership as the foundation of their estate plan. When properly prepared, a living trust will avoid the public, costly and time-consuming court processes of conservatorship or guardianship (due to...
