Today many people are using revocable living trusts as the foundation for their estate plans. When properly prepared, a living trust will avoid the public, costly, and time-consuming court process of conservatorship (due to incapacity) or probate (after death). Still, many people make a big mistake that sends their assets and loved ones right into
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Everyone over the age of eighteen should have an estate plan, regardless of your net worth. An estate plan consists of documents that control decisions over your person or your affairs if you cannot make those decisions for yourself, or if you pass away. It includes not only the documents that everyone thinks about such
If you have failed to plan for your personal incapacity by designating an agent to act as your Attorney in Fact under a Durable Power of Attorney or as an Agent under a Health Care Proxy, the person who will make these personal decisions on your behalf will be determined not by you, but by
A Conservator is a person appointed by the court to be responsible for the estate of a person who is unable to manage his or her financial resources for various reasons, including but not limited to, mental and physical illness or disability, chronic drug or alcohol use, confinement, or disappearance. When it becomes clear that
Many people think that by having a Will they are avoiding the time and expense that comes with the probate process. However, just because you have a Will you do not avoid probate. “Probate” is the process in which a personal representative can gather your assets and re-title them in the name of your heirs.