Does Estate Administration Need to Be Supervised?
What is an unsupervised administration and why is it better than other types?
Counsel & Advice From Top New Mexico Estate Planning & Elder Law Attorney
Estate planning services refer to the process of managing and distributing one’s assets and properties after their death, in a way that ensures the smooth transfer of wealth to the intended beneficiaries while minimizing taxes and other expenses. Estate planning services may include drafting legal documents such as wills, trusts, and powers of attorney, as well as providing guidance and advice on strategies for asset protection and wealth transfer. These services may be provided by lawyers, financial advisors, or other professionals with expertise in estate planning. Effective estate planning can help individuals achieve their long-term financial goals and provide peace of mind for themselves and their loved ones.
What is an unsupervised administration and why is it better than other types?
For those of us with aging parents or other loved ones, there are some important things to consider.
Here are a few options to consider when you can no longer live alone.
When considering whether to contest a decedent’s Last Will and Testament, an individual should consider whether red flags might be present which may point to a successful basis to challenge a disputed Will.
Your dad bequeathed you a generous sum of money on his passing. Those gifted and inherited assets, in many instances, will be considered ‘separate property,’ not marital property. That might mean that they might not be subject to division, if you divorce. However, perhaps you want to backstop that hoped-for result to make the protection more likely to stick if your marriage doesn’t work out.
In presentations regarding essential actions individuals should take regarding inheritance, emphasis is usually placed on drafting a will. This leaves unanswered what happens to assets that do not pass by will —so called non-probate assets.
You may lose the ability to manage your own affairs as you grow older. Therefore, it’s necessary to have an incapacity plan in place.
Long-term care insurance covers expensive nursing care needs. However, is it a good investment? Here’s what experts say about what you should take into account.
Here are some important parts of your estate plan that should be reviewed.
One of the most important estate planning documents for all persons over the age of 18 to consider is a durable power of attorney.