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Is a will necessary?
Answer: If you or a loved one dies without a will, the laws of descent
and distribution will apply.
A surviving spouse may get all or at least part
of the estate, depending on children and other factors.
If there is no surviving spouse, and no children,
then the estate may be distributed to brothers and sisters,
parents and so forth.
A will is indispensable, however, because you can
name your own executor and have that executor serve without
posting a bond- a big money saver.
Additionally, a will is helpful to sell personal
and real property without obtaining a court order.
What do I need to do to avoid
probate?
Answer: You need to ask first why you want to avoid probate.
Probate is not necessarily a bad thing and sometimes
is less expensive than setting up a cumbersome trust and
titling all of your property in the name of the trust.
With a little bit of estate planning, for any income
bracket, we can help you make your experience with probate
less painful than you might think.
Typical ways to avoid probate may include placing
the property in trust, or in joint survivorship, or transferring
upon death.
Talk with us so we can tailor a solution to fit
your needs.
What things should be in my estate
plan?
Answer: Everyone should have a testamentary will, a power of attorney,
a durable power of health care attorney and a living will.
You should also check to be sure that real estate
is not only in both names of husband and wife, but also
in joint survivorship.
This is the checklist we go through with you when
we prepare your will.
When is a trust necessary?
Answer: Not as often as some attorneys would like you to believe.
Trusts can be helpful to avoid or minimize federal
estate tax ( estates over $1.2 million), avoid probate,
protect children who can’t handle money very well, and
provide for children with disabilities (special needs
trusts). Be
careful of flim flam services trying to sell you a trust.
Make sure you are dealing with a licensed attorney
who an explain how the trust will save you money or otherwise
benefit you, and make sure that the assets you want in
the trust are actually titled in the name of the trust.
I was charged with a DUI and blew over
the legal limit. Is
there any reason why I should not simply plead guilty at
my arraignment? Answer: In any criminal case, its always best to talk with an attorney
first to make sure the State can prove the elements of
the crime charged and to determine any defenses which
would exonerate or reduce the crime charged.
A DUI arrest must be based on a probable cause
stop and the breath test must be administered in accordance
with a series of state standards in order to be introduced
into evidence.
It pays to check it out.
What is the difference between
a divorce and dissolution, and how should I proceed?
Answer: A dissolution is a termination of a marriage where both parties
file with the court a petition for dissolution and a separation
agreement/shared parenting plan.
It is based on an agreement, and it is beneficial
because it is based on an agreement, it is less stressful
for parents and children alike, and you can save a lot
of money. A
divorce is filed as a contested action and can end up
with a trial to the court, although many of these resolve
themselves by agreement.
If you can reach an agreement for a dissolution,
you need to address these factors:
1)
custody of children, child support, tax exemptions
and medical care.
2)
Division of real estate and personal property;
remember that a spouse has a right to one half of the
other spouse’s pension that accrued during the divorce.
3)
Spousal support.
4)
Division of debts.
What is happening with the new federal
bankruptcy law? Answer: Good questions. As
you may know, Congress recently passed and the President
signed the Bankruptcy Reform and Consumer Protection Act
which takes
effect in October, 2005.
The details are a bit sketchy, but it will be more
difficult to file bankruptcy in the future.
Stay tuned and we will keep you informed.
Otherwise, if you have been considering a bankruptcy
this may be an opportune time to talk to a lawyer.
If you have other questions of general interest, please
e-mail them to us so we can address them. |
