Building and Protecting Families
Posted in Probate on Nov 17th, 2011
NJT857ACMZB8 In some circles, “probate” almost feels like a dirty word. There are plenty of reasons that a person may prefer to skip the probate process, when possible, but it is a fact of wills and trust administration. The details of probate can vary somewhat from place to place. For example, probate in California will [...]
More About Probate in MarylandPosted in Estate Planning on Nov 15th, 2011
Many clients who seek out estate planning in Bethesda and Upper Marlboro have concerns when it comes to caring for their pets. After all, our pets rely on us for everything, although we all know that we gain so much in return. When engaging in estate planning with an attorney, you likely want to ensure [...]
More About Pet TrustsPosted in Estate Planning, Probate on May 17th, 2010
I frequently get questions from my clients about how to avoid probate by retitling property. If your desire is to avoid probate, a properly funded revocable trust can do that. However, certain types of property ownership can also avoid probate. There are three categories of property ownership – property titled in your name, in joint [...]
Click here to learn more about avoiding probatePosted in Estate Planning, Probate on Apr 12th, 2010
Myth: A Revocable Living Trust always avoids probate. Fact: If you have a Revocable Living Trust and it is not properly funded, all assets titled in your name at the time of your death and not titled in the name of the trust will need to go through probate. To properly fund the trust and [...]
Posted in Estate Planning, Probate on Mar 22nd, 2010
MYTH: Holding property in a joint tenancy arrangement is a cost effective way to avoid probate. FACT: Holding property in a joint tenancy arrangement can avoid probate; however, there can be negative consequences to doing so. The joint tenant has ownership rights in the property leaving the property subject to the joint tenants creditors. For example, a [...]
Posted in Estate Planning, Estate Planning Term of the Week, Probate on Feb 24th, 2010
Ancillary Probate Definition: Ancillary Probate is a secondary probate proceeding that occurs in a state where the decedent did not live, but where the decedent owned property. Tweet
Posted in Estate Planning, Probate on Jan 18th, 2010
Probate costs vary from state to state and may include the following fees/costs: fees to appraise the value of your property; fees for your Personal Representative; estate administration costs, which can be high; court costs; insurance costs for a Surety Bond; and legal and accounting fees. Total probate costs can range from 3% – 7% (or [...]
Posted in Estate Planning, Probate on Jan 15th, 2010
Probate is the process by which legal title to property is transferred from the deceased person’s estate to his/her beneficiaries. The probate process involves the following: proving that the deceased person’s Will is valid; hearing any objections to the Will; identifying and listing the deceased person’s property; appraising the property; paying any outstanding debts and [...]