Part 1 and Part 2 of this blog topic dealt mainly with terms that deal with things once you die. What about while you’re still alive? What happens if you become disabled and/or incapacitated and not able to do things for yourself? That’s where Part 3 of this Legal Words topic comes in. If [...]
Part 1 of this blog topic identified a few estate planning legal terms and explained what they mean. Part 2 continues with more estate planning terms. In Part 1, one of the terms defined was Probate - the court-supervised process for administering an estate after someone dies. But is there a way to avoid that [...]
Lawyers often use words that are unfamiliar. What’s even worse is that often, legal terminology is not even consistent throughout the states. Additionally, a legal concept, such as “Homestead” can have several different meanings in different situations. The area of Estate Planning is full of legal terms that you should know and understand. Let’s [...]
If the value of the assets that are left to a minor under the age of 18 exceeds $15,000.00, a Court-administered Guardianship will be required for the minor child. This may happen inadvertently by designating a child as a contingent beneficiary on a life insurance policy or passing away without a Will. Not only [...]
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