If your estate plan is contested it could end up in probate court. Depending on the complexity of your will and other documents, this process can be lengthy (and rack up legal expenses as a result). However, there are steps you can take to prevent your will from being contested, such as by making sure there are no mistakes in your estate plan. Kiplinger offers guidance on how to do just that, which benefits your estate as well as your family.
For people currently creating their estate plans in California, taking a comprehensive view is key to ensuring your property and assets remain protected. Unfortunately, there are a few considerations that often slip through the cracks when drafting a will, which can result in your decisions being contested. Forbes provides insight into some of these overlooked factors so you can rest assured of a valid and legally binding plan that accurately reflects your final wishes.
A contested will can throw a family into turmoil. That’s why it’s crucial to ensure your will remains legally binding during the estate planning process, whether you have numerous assets or just a few treasured belongings. TheBalance.com explains how you can arrange your will so there is little chance of it being contested.
Trusts are important estate planning tools in California, and having one set up and funded may give you considerable peace of mind. Updating it as you acquire assets may seem like a tedious chore, but if you don't, there's a chance that some of your assets won't be distributed to your beneficiaries the way you planned. Is there another option?
When it comes to the probate process, people have a variety of questions. From fiduciary duties to issues with beneficiaries, there are many different challenges that can arise. In fact, some people are unsure if probate is necessary based on the size of an estate. In some cases, the probate process is not necessary for a small estate. For example, an estate that has less than $20,000 worth of real estate assets or $150,000 worth of total assets may avoid probate. While some very small estates may be able to avoid probate based upon their size, many are not able to.
The estate planning process may present various challenges and families who have lost a loved one may have to work through a number of issues as well. In this write-up, we will take a closer look at undue influence and some considerations related to this facet of estate planning. Whether you are facing allegations of undue influence or believe that one of your relatives exerted undue influence over your loved one before they passed on, it is critical to handle these matters carefully.
It is often said that the death of a loved one in Los Angeles (and anywhere else, for that matter) can have a galvanizing effect to help bring a family together. If that is true, then the opposite might often be said about estate administrations; they may end up tearing families apart. Of course, one can imagine that this is not the hope of those who died. This is why estate planning experts recommend being as transparent as possible when drafting wills and trust articles. The hope is that doing so will help avoid disputes amongst beneficiaries.
When a loved one passes away, an estate administrator or estate executor is appointed to manage the property and perform a number of duties to finalize the estate's property and finances. In some cases, the estate may have to go through the probate process. This procedure is designed to help ensure that the will is valid and that the property is properly distributed to the rightful heirs. The probate process, however, can be costly and time consuming, which can leave a burden on loved ones and friends who are left behind to deal with the deceased's estate. This leaves many people struggling to create their estate plans in such a way that they are able to avoid probate all together.
You have probably heard people say that Los Angeles residents should do all they can to avoid having their estates go to probate. This is because the perception is that probate costs a lot (and its expenses must be paid from estate assets). Yet there are times when it is necessary (even prudent) for an estate case to go to probate court. If you happen to be party to an estate that is headed to probate, then you may rightly be questioning how much the process will cost?
Our law office has covered many different topics related to the probate process, such as wrongdoing involving executors and misunderstanding with respect to fiduciary duties. Many more challenges related to probate may arise and some can be especially difficult for entire families to work through. For example, siblings may find themselves in a dispute over the way in which an estate is distributed following the passing of their loved one. In extreme cases, these disputes can lead to permanent estrangement and even threats and violence. As a result, it is critical for those involved in a dispute and those who anticipate a dispute to approach things with care.