You may need to review and/or revise your estate planning documents every three years or more frequently depending on your situation, or you may simply feel more comfortable reviewing it regularly. Ultimately, it’s up to you, but the more you review the less likely that your heirs hire an estate litigation lawyer. Reason 1: Your Will / Trust Never Goes Out Of Date With a regular review, you may decide to change things that may not be accurate anymore, or you simply desire to change things. For example, you may wish to remove one of your children from the will,…
With a will can you name the Executor / Personal Representative (“PR”) you would prefer to handle your estate after your gone. The PR gathers and protects all your assets, pays all your debts, and distributes your property in accordance with your wishes as set forth in the will. If you have no will, someone has to file with the Probate Court to get the legal authority to deal with your property and do the same tasks as the PR. However, a Probate Court Judge decides who the PR is. Consequently, a family battle could ensue. Therefore, a will solves…
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