Instead of the trust itself paying the tax, beneficiaries of trusts often do so on the distributions they get from the trust’s revenue. Nevertheless, as
Introduction Usually, a question wanders around the mind of almost all families who recently lost their close one “Does the probate attorney or executor have
Before diving deep into whether a bank can release funds without Probate, we first need to understand what Probate is. What is Probate? Probate is
Most estates must go through the legal procedure of probate in court after the estate owner’s death. Probate is a lawful procedure that handles the
Government gift tax Almost anything you own can be given as a gift. In addition, the IRS permits you to donate up to a specified
If a person’s estate does not go through probate, then any property left behind can be transferred to the next of kin without going through
What is a Probate Attorney? To get to know what a Probate attorney is, we should first understand what probate means. Probate is the legal
Uniform probate code The National Conference of Commissioners on Uniform State Laws (NCCUSL) drafts the Uniform probate code. NCCUSL tends to govern inheritance as well
Rarely, but occasionally, it may be permissible to leave some of your assets to your children. So, how can one give an inheritance while they
Estate planning is not just for Wealth. Even though we usually associate the word “estate” with the extremely wealthy. Everyone can gain from having an
Probate is the judicial process whereby a will is “proved” in a court of law and accepted as a valid public document that is the
A lot of people are more interested in planning their vacation trips rather than estate planning. They think that estate planning is only for the
Steps of the Probate Process There are four steps in the probate process. The first step is determining the validity of the Will. The second
An Estate of a person includes everything he owns. From one’s home to vehicles, bank accounts, insurance, financial investments, properties, and other personal belongings. So,
Introduction Inheritance may be required. As a result, most people need to consult a probate lawyer at some point. Unfortunately, this cannot be easy. After
A question that pops up inside every adult’s mind is, “Do I need an estate plan?” A study reported that more than 76% of adults
Probate of Will The High court grants probate with the court seal and a copy of the Will attached. A statement of legal intent that
An inheritance tax (IHT) is imposed on property that has been gifted or inherited. Even though IHT is charged upon death, it may also be
Introduction As a trust beneficiary, one might think that they are at the mercy of the Trustee, but beneficiaries have the right to make sure
Estate planning is essential to everyone. We all have to think about what will happen when we die. It is necessary to decide who will
What to do with a loved one’s possessions is probably the last thing on your mind when they pass away. But, unfortunately, we have to
There are procedures for removing or changing a trustee if you are the creator, a co-trustee, or a beneficiary of a family trust and believe
One of the most common questions that people tend to have after the passing of a loved one is, do we need to probate the
A Health care proxy or healthcare surrogate makes medical decisions on your behalf. A healthcare proxy will make sure the doctors follow your wishes. It
Nobody enjoys contemplating their demise. There are more than enough things to be concerned about without worrying. We wouldn’t have to worry about what would
A large inheritance can be both a blessing and a burden because the money may come in handy in the future and because the recipient
Planning your estate can give you privacy, security, and control over your legacy. Having a well-developed plan for what happens to your assets can provide
What is a will? A will is a legal document that details the wishes of the deceased. It is the last will of the individual.
Probate is the judicial process whereby there is proof of a will in a court of law. One accepts a will as a valid public
Do you want to safeguard your estate and your loved ones? Do you want to avoid a drawn-out probate process? Then you will want to
