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Do I Have to Have a Will?

Thu, 24 Mar 2011 19:58:10 GMT

No, but if you do not have a will then your assets will be distributed “intestate.” What this means is that your property will be distributed to your “heirs” (usually your spouse and children) by a procedure that each state has created. The term heirs can be different in every state. Each state may also divide up property differently than you would like. Thus it is important to have a valid will.

What Is Estate Planning?

Tue, 18 Dec 2007 22:06:42 GMT

Estate planning is a process to consider alternatives for, to think through, and to set up legally effective arrangements that would meet your specific wishes if something happens to you or those you care about. Good estate planning is more than just a simple Will. Estate planning also typically minimizes potential taxes and fees, and sets up contingency planning to make sure your wishes regarding health care treatment are followed. On the financial side, a good estate plan coordinates what wou

Does It Make Sense To Use An Attorney? Is It Expensive?

Wed, 18 Jun 2008 13:31:22 GMT

Only an attorney who regularly practices in the fields of wills, trusts, probate and estate planning is able to provide you with really sound legal advice as you put your estate plan into place. Attorneys are subject to regulation by state bar organizations, many of which have continuing education requirements and mandatory liability insurance in case the lawyer makes a mistake. When you speak with an attorney, you can get answers to your questions including how much it would cost. O

What if I Die Wthout Any Family?

Tue, 28 Sep 2010 20:54:48 GMT

If you die without any family (heirs) and without a will then your estate “escheats” to the state. What this means is that the state you live in would receive your property. However, if you have a valid will you could leave your property to anyone or anything of your choosing (with some limitations)

Do I Have to Give Property To Every Child?

Mon, 14 Feb 2011 17:56:29 GMT

No, you can “disinherit” any person you chose. However, the only way to disinherit someone is through the use of a will. It is also a good idea to specifically state why you are disinheriting that person to avoid confusion later.

When Should I Start My Estate Plan?

Tue, 29 May 2007 20:19:00 GMT

The only time that you can prepare and implement an estate plan is while you are alive and have legal capacity to enter into a contract. If you are unable to manage your own affairs or suffer from some other disability which affects your legal capacity, your estate plan may be effectively challenged by those who assert that you lacked capacity at the time the documents were created, that you were subjected to fraud, coercion or undue influence during the creation and implementation of your plan.

What Sorts Of Instructions Are Made As Part Of An Estate Plan?

Tue, 29 May 2007 20:19:00 GMT

An estate plan consists of one or more documents that set forth instructions. Some documents are used to control health care decisions, others control your property in the event of your incapacity, and still other documents will control the distribution of your property in the event of your death.

How Can I Reduce My Estate Tax Upon My Death?

Tue, 29 May 2007 20:19:00 GMT

Federal Estate Taxes are only charged against Estates with net values in excess of the amount set by the law in place at the time of the person's death. The values change from time to time. For example, the amount that exempt from Federal Estate Tax in 2004-2005 was $1.5 m

What Is A Will?

Fri, 21 Dec 2007 22:25:37 GMT

A Will is a written instrument containing directions for how the property of the person making the Will (called the testator) shall be divided on his or her death. State law generally requires that the Will be signed by the testator and by at least two witnesses who have no interest in the property passing under it. The testator must state in the presence of the witnesses that the instrument is his or her Will. He or she must also be competent (not insane, senile or mentally disabled) and not ac

What are Some Typical Estate Planning Documents?

Tue, 29 May 2007 20:19:00 GMT

Several of the following documents are typically used as part of the estate planning process:

Free Family Will FAQs

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