After a testator dies, their money or property goes through probate if they hold them under their name. Probate is when a court examines and authenticates a will. Some people object to probate because it’s a lengthy, expensive process. It also subjects personal...
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Should you use a medical power of attorney?
Generally speaking, if you’re in the hospital, you are the only one who gets to make decisions about the care that you receive. As long as you are 18 years old or older, this decision-making power stays with you. However, as people grow older, this sometimes becomes...
How can you protect your intellectual property?
It is very important to your company that you protect your intellectual property (IP). The first way to do this is to get the appropriate copyrights and register the trademarks that you have. When you register these marks with the government, it helps you prove...
3 characteristics to seek in a prospective trustee or executor
As you begin planning your estate or reviewing your existing estate plan, you have to think about who will fulfill your last wishes, secure your assets and manage your unhandled responsibilities. The executor of your estate will have to maintain and distribute your...
Why you may need a disinheritance clause
If you’re creating your estate plan and you want to disinherit one of your heirs, it essentially just means you don’t want to leave them any of your assets. They’re not going to get family heirlooms or financial assets. Perhaps you have one heir with whom you are...
Will you have to pay business debts yourself if it goes under?
When a business goes under and can’t pay off its debts, the creditors will often come looking for assets. This could include things like real estate, equipment or even inventory. Essentially, the creditors are just trying to find all the assets the business owns so...
What conditions can – and can’t – you place on a trust?
As part of their estate planning, many people choose to establish trusts for their children, grandchildren or others to give them a financial “leg-up” as they enter adulthood. Often, these trusts are set up with conditions. These can be as simple as stating that the...
2 signs you could be dealing with a fraudulent will
Sometimes a will turns out to be fraudulent. As you probably know, a fraudulent will cannot be enforced. Rather, a will that is deemed fraudulent may be challenged by the interested parties. Here are some of the red lights that may be indicative of a fraudulent will....
Could an LLC be the right structure for your new company?
Starting your own business is a bold decision but it can also be very rewarding. From the outset, you’re going to have to make some important calls, and choosing the appropriate business structure is one of these. One of your options is to form a Limited Liability...
Dying intestate: Why don’t more people write a will?
A will is relatively simple and cheap compared to some other estate planning options, and it can cover several things. Despite this, many people do not have one. About 68% of Americans, that’s nearly one out of three people, die without a will (also called dying...
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