Many clients have asked me: “what is probate”? My answer: it depends. As an qualified estate planning lawyer will tell you, on a basic level, the term probate is merely a court proceeding(s) in which a court wraps-up or concludes all the legal and financial matters of deceased person. Think about it: when somebody dies,…
Author: Flanders Law Firm LLC
Estate Planning: Gaining Knowledge About Your Estate Plan
If you are confused or have questions about your estate plan, you have come to the right place. I am an experienced estate planning lawyer with experience in drafting wills, trusts, and other estate planning documents. The initial purpose of this blog was to serve as an outlet of the knowledge I have gained as…
Estate Planning: Working with Your Lawyer
When conducting proper estate planning, you need to make sure that you are comfortable with your estate planning lawyer. Picking an attorney can be difficult. Often, people will decide on a lawyer based on recommendations or referrals from friends and family. This is often a great way to ensure that you are able to locate…
Retirement Planning: Do You Need Help With Your 401(k)?
Take a look at this interesting article by Smart Money where the the author discusses a survey stating that many Americans are not seeking help with managing and understanding their 401(k)s. I can relate to the sentiment and I probably would have answered the survey in a similar fashion as many of the survey takers….
Estate Planning: Drafting a Will with Witnesses Present
In most states, witnesses must be present when the person making the Will reviews and signs the document. This seems simple, right? Additionally, in most states, anywhere from two to three witness must be present with the Will maker when it is signed. A good estate planning attorney will explain this. Again, simple. However, many…
The Requirements of a Simple Will
Although the requirements vary from state-to-state, there are certain requirements required to draft a valid simple Will. Most people know that they should have a Will of some kind. However, most people don’t understand the basis behind why you should have a Will or what is required to make one. Talking to a estate planning…
Estate Planning: Changes in Medicaid Law May Affect Estate Plans
Recent changes in federal and state legislation may have affect on your estate or retirement planning. New legislation is being issued in many states across the country which allows a court to seize new assets for purposes of medicaid recovery. Now, a state may be able to recover medicaid related health-care costs from a person’s joint bank…
Estate Planning Advice | Put Your Will in a Trust
As I discussed in a prior post, many people are not aware of the common differences between a Will and a Trust. This post offers a discussion of what is known as the “Pour-Over Will.” The Pour-Over Will is a document that acts as a typical Last Will and Testament in many respects with one…
Estate Planning | New Marriages Can Mean Disinheriting Your Children
Helen Morris at the Times Colonist had an interesting article this morning about the potential dangers of new marriages causing disinheritance of children. As she does a nice job discussing, new marriages can have a significant effect on how money and other assets are passed when a person dies. Often, people who fail to conduct proper estate planning can be surprised on what…
Estate Planning | Handling Estate Cash Responsibly
As I discussed in my prior post, a Personal Representative must properly manage the estate assets. The court and the beneficiaries of the estate will all be paying attention to make sure that Personal Representative is acting in the best interest of the estate. The Personal Representative must act as a fiduciary and handle estate…