The Elrod Firm

Topic: Probate

Episode 02: The Probate Episode

In this episode, Justin and Drew talk about probate court and why you should do everything you can to avoid it.  You’ll hear real-life horror stories about celebrities as well as middle-class families whose failure to plan to avoid probate cost them dearly. What You’ll Learn: The truth about what probate court really involves The …

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The Tale of Three Joggers

It seems to me that people run for a wide variety of reasons. When questioned by curious observers on his famous run across the country, Forrest Gump said he “just felt like running.” I’m sure Forrest is not alone. Surely there are others who run just because they feel like it, right? But I wonder …

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The Dangers of a Simple Deed

When Rose’s husband died three years ago, she decided it was finally time to get her affairs in order.  She wanted to keep things simple, so her plan was to deed her home and farm to her four children.  She knew she wanted to keep her family out of probate court when she died, and …

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Don't Be Shortsighted - Plan for The Future

Don’t Be Shortsighted

Do you remember the Y2K “disaster” of twenty years ago? Tension was so high that TIME magazine ran a cover asking whether this was “The end of the world!?!” with bylines including “Y2K insanity!” and “Will computers melt down? Will society?” In what was described by TIME magazine as a “ludicrously shortsighted shortcut,” computer programmers …

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How Can I Avoid Probate Court?

Justin, when you designate that an annuity or an IRA is to pay at death to a specific person rather than to a trust, is probate required?  – Dana Dana, Thanks for the question.  There are four main ways to keep a financial account out of probate court.  You can: 1) grant full or partial …

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What Are Letters of Administration?

Justin, My mother created a trust the year before she died. While working to wrap up her affairs, I ran across some stock. When I called the company to have the stock changed to the kids’ names, the company wrote back saying I needed to send them “Letters of Administration.” Can you help with that?

What is Probate?

Justin, What is probate and why does everybody say I should be so concerned about it?

How Do Death Beneficiary Forms Work?

Justin, My financial advisor has talked to me about the importance of keeping my accounts out of probate court. He said I can accomplish that using death beneficiary forms his company provides. Are there any details I should know about before going with that plan?

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