Death is not the end – at least, not for your wealth, belongings, assets, property, and legacy. Those will have to go through the wringer of Virginia or Tennessee Probate Court. Unless that is, you follow the advice in this article and work with an estate planning attorney to avoid it. The article explains: What probate is, when it occurs, and why you might want to avoid it for your estate. Two tips for avoiding probate in Virginia and Tennessee. Why you should work with an experienced attorney when trying to avoid probate. What Is Probate? There are only two…Read More
After you pass away, your assets and property will be distributed to the beneficiaries named in your will or the state’s default distribution scheme. Following the death of a loved one, most people just want to get through the probate process as soon as possible so that they can grieve in peace. However, the entire probate process can take between 18 and 24 months to complete. During his time, your loved ones can be forced to endure unnecessary stress as they try to obtain access to your accounts and property. While there are many reasons that your loved one’s time can be…Read More
When a person’s estate passes through probate after their death, it can be subject to a number of different expenses, such as fees for attorneys, executors, appraisers, and accountants. Depending on how complex the estate is, and how long the probate process takes, these fees can add up to thousands of dollars. If you want to reduce such expenses, then consider these three tips that can help you avoid probate. Name A Beneficiary Accounts and other property that is in your name must go through probate after you pass away. But if you name a beneficiary during your lifetime, then…Read More
Many of the clients we serve at Legacy Law Centers use a revocable living trust instead of a will or joint ownership to plan how their assets and other valuable property will be distributed among their family and other beneficiaries of their estates. When we help clients set up their trusts to ensure that everything is in order, they can avoid the costly and time-consuming process of going to court to establish conservatorship or guardianship (in cases involving incapacity) or to probate the estate ( after a person passes away). While trusts can greatly benefit your family in their time of need, many people fail to properly fund…Read More
