You have undoubtedly been told by well-meaning friends and family members how important it is to execute a Last Will and Testament. Nevertheless, you have yet to take the time to create one. To help encourage you to get started on your Will, a Grand Forks estate planning attorney at German Law Group explains why you need a Will. Testate vs. Intestate Understanding some of the more important legal terminology is a good place to start. A “testate” estate refers to the estate of a “Testator” … [Read more...] about Why Do I Need a Will?
One of the primary reasons for executing a Last Will and Testament is to ensure that the assets you leave behind will be distributed according to your wishes. If someone challenges the validity of your Will, however, the ensuing Will contest could result in those wishes not being honored. To help prevent that from happening, a Grand Forks estate planning attorney at German Law Group discusses what you can do to prevent a Will contest after you are gone. What Happens When Someone Contests a … [Read more...] about Protecting Your Wishes in Your Will
People frequently make the mistake of assuming that estate planning is only necessary for those with substantial assets. While an elaborate and complex estate plan may not be needed by all, a basic plan that starts with a Last Will and Testament is needed by everyone. Failing to execute at least a Last Will and Testament can have a number of unintended negative consequences. A Grand Forks estate planning attorney at German Law Group offers three reasons why a Will is necessary. Last Will and … [Read more...] about 3 Reasons a Will Is Necessary
For most people, the first estate planning document they create is a Last Will and Testament. If you are planning to execute a Will for the first time, you should give ample thought to the contents of that Will ahead of time. To help you, the Grand Forks estate planning attorneys at German Law Group suggest questions to ask yourself when creating a Will. What Is a Last Will and Testament? At its most basic, a Last Will and Testament is a legal document that communicates a person's final … [Read more...] about Questions to Consider When Creating Your Will
If you have executed a Last Will and Testament, you are undoubtedly counting on the terms of that Will being followed during the probate of your estate. After all, a primary motivation for creating a Will is the ability to dictate how your estate assets will be distributed when you are gone. If someone successfully challenges your Will, however, your wishes will not be honored, and your estate will be distributed using the state’s intestate succession laws. A Grand Forks estate planning attorney … [Read more...] about How Can I Prevent My Will from Being Contested?
Given that a Last Will and Testament typically serves as the foundation of a comprehensive estate plan, care should be taken to avoid making a mistake when creating your Will. Nevertheless, there are some common mistakes people make. To help you avoid making them, a Grand Forks estate planning attorney at German Law Group discusses common mistakes people make when creating a Last Will and Testament. Failing to work with an estate planning attorney. In today’s electronic age, it is tempting to … [Read more...] about Last Will and Testament Mistakes to Avoid
When a loved one passes away, it can be difficult to accept the loss. Sometimes, the grieving process is made even more difficult as a result of concerns surrounding the decedent’s state of mind at the time he/she executed a Last Will and Testament. When that happens, it adds uncertainty and confusion to your already heightened emotions. How do you prove that your loved one did not have the requisite testamentary capacity to execute his/her Will? To give you an idea of the road ahead, a Grand … [Read more...] about What Is Required to Show Lack of Testamentary Capacity in a Will Contest?
For most people, one of the primary reasons why they execute a Last Will and Testament is to ensure that their estate assets are distributed according to their wishes after they are gone. If that is one of the reasons why you have a Will in place, you certainly don’t want someone to challenge that Will after your death. Although there is no sure fire way to prevent a Will contest, a Grand Forks wills and trusts attorney offers some suggestions that will help decrease the odds of a challenge to … [Read more...] about Steps You Can Take to Decrease the Odds of a Challenge to Your Will
Most people execute a Last Will and Testament as their initial estate planning document because a Will has the ability to distribute all your estate assets after your death. A Will has limitations though which is why those same people often choose to rely on a revocable living trust to distribute their estate assets at some point down the road. Once you have a revocable living trust in place, do you still need a Will? The simple answer is “yes.” The Limitations of a Will A Last Will and … [Read more...] about Do You Need a Will If You Have a Revocable Living Trust?
For the average person, the first step in creating an estate plan is drafting and executing a Last Will and Testament. If you are just now contemplating the steps you need to take to get started on your first estate plan, you may be tempted to try taking a shortcut that includes using a DIY Will instead of working with an experienced estate planning attorney. Doing so will save you both time and money and finally get your estate plan started, right? It’s just a simple Will after all…how … [Read more...] about Do I Need an Estate Planning Lawyer for a Simple Will?