Any heir or beneficiary has the right to challenge or contest your will. This means that he or she is arguing that there is one reason or another why the will should not be classified as legally valid in a probate sense. An individual coming forward to contest the will has the responsibility of… Read More »
Posts Categorized: Wills
Most Common Tools Used in the Estate Planning Process
If you are finally ready to accomplish your estate planning but you are not sure what strategies or tools you need to help you, there are several common instruments that may be beneficial depending on your individual needs. These include a will, a living trust, a pre-nuptial agreement, a healthcare proxy, a living will, a… Read More »
In Massachusetts, Is My Living Will the Same Thing as a Do-Not-Resuscitate Order?
When preparing for estate planning, it’s easy to become confused by the numerous legal terms involved in this process. Your living will and a Do-Not-Resuscitate order are not the same thing, so read on to identify what makes each one unique. Your living will gives official guidance to an appointed authority agent known as your… Read More »
Prince’s Estate Teaches Important Lessons about Planning
There is no doubt that Prince had clear intentions about the rights to his music. According to a 1996 interview in Rolling Stone Prince said, “If you don’t own your masters, your master owns you.” Unfortunately, however, it is coming to light that Prince did not have as much clarity with his own estate planning…. Read More »
The 4 C’s: Why You Need An Estate Plan
NerdWallet recently answered that age-old question — “Do I need a will?” — with a pithy but resounding, “Yes.” Of course, one-word answers haven’t convinced most Americans. Despite experts’ impassioned pleas, some 55% of adults in this country still don’t have so much as a will, let alone a trust or any of the other… Read More »
A Look at a Few Common Trusts (And How They Help)
The Motley Fool recently issued a new article dispelling the myth that trusts are only for wealthy families with walk-in vaults and rivers of gold. The truth is that trusts have become an essential building block in today’s middle-class and working-class estate plans. View image | gettyimages.com Trusts can save everyone money, heartache, hassle, and… Read More »
Robin Williams’ Will: No Exploitation of His Image for 25 Years
Don’t look for a Robin Williams hologram at next year’s Oscars. Who can forget the dancing Michael Jackson hologram at last year’s Billboard Music Awards? Or Celine Dion’s “American Idol” duet with a posthumous Elvis? Or the recent Audrey Hepburn commercial for Dove chocolates? The advertising and entertainment industries love a good resurrection. But they… Read More »
Choosing the Wrong Personal Representative for a Will Could Cost Millions
We always stress the importance of choosing the right personal representative for a Last Will and Testament. The ideal candidate is someone impartial, capable, trustworthy, and fair. It isn’t a decision to make lightly. View image | gettyimages.com Why not? Well, consider this story from Forbes. The cast of characters, as they put it, includes:… Read More »
Don’t Assume Your Estate Plan is All Set
So, you have your estate plan in place. If you did it more than a few years ago, have you reviewed it? Does it still make sense for your needs? Are your accounts and beneficiary designations correct? Take some time to double-check and actually schedule a time to talk with your estate planning attorney to… Read More »
Understanding a Pour-Over Will
A Pour-Over Will is a type of Will that directs your assets to a trust that is separate from the Will. The reason for “pouring” assets from the Will over to a trust is so that the trust will direct what happens with your assets. Having your trust control the assets provides for potential tax… Read More »