Estate planning is not just for the wealthy. Anyone with a bank account, house, car or other personal property should have a will.
Even Consumer Reports suggests working with an experienced estate planning attorney to ensure documents are correctly prepared.
According to a recent Gallup poll, a little over half (54%) of adults in America don’t have a will.
A person named as a transfer on death (TOD) beneficiary for an account will receive the assets held in it when the account owner dies.
What is an unsupervised administration and why is it better than other types?
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.
Here are some important parts of your estate plan that should be reviewed.
There are good reasons why people want their estates to avoid probate, and a lot of ways to do it.
Non-probate assets are those assets which do not go into an estate when the owner dies.
Whether you drew up a will recently or years ago, keep in mind it’s generally not something you can set and forget.