Probate Archives - Page 4 of 5

Three Estate Planning Horror Stories

There is nothing worse than thinking you have everything in order but learning, often when it’s too late to do anything about it, that you really don’t. It almost feels like I imagine a character in a horror movie might feel when he thinks he’s escaped danger. He closes his eyes and takes a deep breath, only to find that the monster he was trying to avoid is standing right behind him. There are a lot of monsters to avoid in the maze of estate planning.

Three Estate Planning Horror Stories Read More »

Can I just add co-owners or death beneficiaries to avoid probate court?

Justin, I’ve heard about trusts and avoiding probate, but why can’t I just add my children as co-owners or death beneficiaries on my assets? Wouldn’t that avoid probate too?

Can I just add co-owners or death beneficiaries to avoid probate court? Read More »

Don’t Count on the Media for Estate Planning Advice

Don’t let stories you hear in the media confuse you. Having a will is better than nothing, but it does not make things simple, and it does not keep you out of probate court. Even having a trust won’t keep you out of probate court if you don’t use it right. You must fully fund your trust to protect your family and your estate.

Don’t Count on the Media for Estate Planning Advice Read More »

No Such Thing as a “Simple Will”

Clients frequently ask if we can just set up a simple will for them. They don’t have a whole lot and they don’t want anything fancy or complicated. Although we certainly could draw up a “simple will” for someone, the result of doing that type of planning is not the outcome most people want.

No Such Thing as a “Simple Will” Read More »

How can I change my deed?

Justin, Five years ago, I used a life estate deed to sign my home over to my three children to keep it out of probate court. About a year ago, my son died. I think it’s time to redo my deed to remove my son’s name—what will be involved?

How can I change my deed? Read More »

Big Announcement from The Elrod Firm

The Elrod Firm is excited to announce that Bethany Pike has accepted an invitation to become a partner in the firm.

Big Announcement from The Elrod Firm Read More »

Your Home: An Investment Worth Protecting

If you are motivated to protect your house, you need a plan. The first question you might ask yourself is – from what does my house need protecting?. But there are three common legal risks that you can minimize or avoid by planning ahead.

Your Home: An Investment Worth Protecting Read More »

What if I do nothing?

Justin, I’ve read several articles and even heard a couple of presentations on the importance of estate planning, but I really don’t have that much. I own my home and a car and by the end of each month have around $15,000 in the bank. I really don’t want to go to the trouble and expense of doing an estate plan. What happens if I do nothing?

What if I do nothing? Read More »

An Important Gift for your Children: Setting up your Estate Plan

One of the best gifts you can give your children is to set up your own estate plan. Most people who come to see us, “want to get their affairs in order.” They want to make sure their property is distributed according to their wishes when they pass away. We can definitely help set up a plan to meet that goal. With proper planning, however, you can also avoid probate court and protect your assets from the cost of long-term care.

An Important Gift for your Children: Setting up your Estate Plan Read More »

A Not-So-Successful Business Transition

Owning a business is a major undertaking. After putting so much of your energy, time, and money into starting and running a business, the last thing you want is for the business to just “end” because something happens to you. But that’s exactly what can happen if you don’t plan ahead for some sort of business succession. Even if the plan is to simply sell the business assets and wrap up shop, things can get very messy without an appropriate plan in place.

A Not-So-Successful Business Transition Read More »

Probate