Last week we discussed a few basic benefits and drawbacks of having your estate go through probate, a process that transfers a person's property upon death. Probate can be expensive and time-consuming and it often leaves a decedent with less control over his or her property.
Tips for preventing probate: part one
If you've been looking into drafting or updating your estate plan, you have likely come across the term "probate." Probate is a court-supervised process that sorts out and transfers a person's property upon their death. Typically the decedent's property is collected after death, certain debts, claims and taxes are paid from the estate, any disputes over assets are settled and eventually the property is distributed.
Federal budget could affect your estate plan: part two
In our most recent post we talked about the federal budget and some of the ways that it might affect estate planning. Some commentators have expressed concerns that the tightening of federal purse strings might shrink the arsenal of estate planning professionals, leaving fewer options for people who want to formulate a useful, comprehensive plan.
