In any comprehensive estate plan, a letter of instruction (LOI) is an important component. An LOI can help your loved ones manage important information about you. It conveys your desires, includes practical information about where to find various items referenced…
Wills are legally bound directives that state who will receive your property upon your death and are an essential component of a comprehensive estate plan. If you die without one (intestate), the state will distribute your assets and property via…
An annual survey conducted by Caring.com indicates that the number of Americans who have a will has only increased by 2.5 percent over the previous year. Overall, the percentage of those with a will continues to decline, 33 percent in…
Sometimes when a loved one passes away, an individual who believes they inherited assets from the decedent will be told at a bank or financial institution that they need “Letters Testamentary” in order to collect those assets. The question most…
If you have assets such as bank accounts, brokerage accounts, or real property, you have an estate and therefore you need to have a plan! Your estate is what you have today and what you leave behind after you pass…
Unfortunately, heirs may not always be content with the assets or amount of money left to them in a Will or Trust. Once the Testator or Grantor passes away, there is not much they can do to prevent their heirs…
The answer to the question “Are gifts made during my lifetime includible in my estate for estate tax purposes?” depends on several factors. Federal For purposes of the Federal Estate Tax, yes, any taxable gifts you make during your lifetime…
The short, but perhaps not so obvious answer to the question “Who has the right to determine what happens to my body when I die?” is, YOU – provided you planned ahead of time. We advise many of our clients…
The practical answer to the question “Do I need a death certificate to probate a will?” is yes. In a practical sense, the Surrogate’s Court generally requires a death certificate in order to probate a Will, as it needs the…
So you own your home and you think that it will be transferred to your family upon your passing without going to court. But is that really the case? What does all of this mean? A house that is owned…