It’s never too early to start planning your estate. When you die, most of your assets will be subject to probate, the court-supervised process of following the instructions in your will.
The process of managing and carrying out the wishes of someone who set up a trust. In a trust, a trustee is appointed to handle and look after certain assets for the benefit of others.
The goal of an effective and well-considered estate plan is to avoid disputes and probate court intervention, but sometimes the decision to plan comes too late.
Have you been told that your son or daughter, who has a disability, is not allowed to inherit money? It’s true, an inheritance will interrupt his or her SSI and Medicaid.
If a person has been determined to be mentally incapacitated and has assets that will be wasted, the court will appoint a conservator to manage his or her assets.
A legal guardian is responsible for making decisions regarding a minor person’s personal affairs and living situation.