Legal Briefs

Though they may be divorced, parents still must make decisions together about their children. Typically, there are four areas in which the decisions are required to be made jointly: religious upbringing of the children; medical care of the children; extracurricular activities; and education.

In a previous Legal Brief on How Probate Works, we discussed the process. Now we’ll take a look at what happens If there is no Will and the court has to name an administrator. How does that work?

Probate is the legal process that takes place after someone dies so that an orderly and legal distribution of one’s assets can occur according to their wishes.

In a previous Legal Briefs blog, we discussed what are a Power of Attorney and an Advanced Director for Health Care and why they are an important part of your Estate Plan.

By now everyone should know that they need a Will, but just having a Will is not enough for a complete estate plan. Estate plans are about making sure your wishes are honored, during life and after your death.

The Consumer Financial Protection Bureau (CFPB) recently finalized updates to its “Know Before You Owe” mortgage disclosure rule which formalized the rule and helped with implementation of the rule by the mortgage industry.

Good estate planning is about much more than just who inherits your money, coin collection or stocks. I would argue that the distribution of your property at death is one of the least important aspects of your planning.

Simply put if you don’t have an estate plan, you and your family will lose control over how your affairs are handled if you become incapacitated during life or when you pass away.

Most people associate estate planning with the wealthy – the seamless passing of assets from one generation to another. But estate planning is not just for the affluent. Everyone – regardless of age or wealth – can benefit from an estate plan because estate planning is not just about money.