Many individuals use wills to control the distribution of their estate after their passing. This makes the will a big part of the probate process for many estates.
Whether you have just married or just retired, it is never a bad time to write your will. It may be uncomfortable to think about your passing, but it will become even more uncomfortable for your surviving loved ones if no document is in place saying how to divide your assets. Unfortunately, six out of every 10 Americans do not have a will in place.
Estate planning is not an easy topic to address, whether you are thinking about creating a will, funding a trust or making plans in case you are incapacitated. You are not alone if you feel overwhelmed at the prospect. Many Nevadans unnecessarily put off their estate planning, and some find it awkward to bring it up to their relatives.
If you are an estate beneficiary, you may have some concerns about the roles of the executor. Your deceased family member may have chosen the best person they could think of to serve as his or her estate administrator. But that does not mean you should assume all is well. You should pay attention to how this individual acts. There is a possibility that he or she may not be the right person to settle your loved one’s affairs.
You create a will so your loved ones have an idea of what you want to leave to whom. However, situations sometimes arise in life that may change your mind about certain decisions you made about how you want your assets allocated, and such changes may warrant a change to your will.
There are many families who struggle after the loss of a loved one. Dealing with grief is not an easy thing to do, and everyone will respond to the loss differently. At some point, the family needs to begin the process of moving on, and often that comes when they begin to carry out their loved one’s final wishes.
The loss of a loved one is a difficult time for everyone involved. When the initial grief has passed, you may be surprised when disputes arise when it comes time to distribute the estate. Whether you are the one who is contesting the way the property is distributed, or you need to protect the estate from challenges, this can be an emotional time. In this post, we discuss three important things that you need to know about estate litigation.