They say that a little bit of information is a dangerous thing, and this often enters the picture when it comes to estate planning. People hear about simple approaches that sound like they would be effective on the surface, and but they don’t fully understand the potential consequences. In this post, we will look at some of these simple solutions that can get quite complicated, but we will start with a bit of background information. Probate Process When a will is used to direct postmortem … [Read more...] about “Simple” Estate Planning Solutions Can Get Complicated
joint tenancy
Beware of These Probate Avoidance Ideas
There is an expression about a little bit of information being a dangerous thing, and this definitely applies to certain estate planning approaches. Some people hear bits and pieces, and they pass along ideas that sound good on the surface, but there are hidden dangers. Probate These notions often revolve around the concept of probate avoidance. Probate is a legal process that takes place under the supervision of a court. If you use a simple will to direct asset transfers after you are … [Read more...] about Beware of These Probate Avoidance Ideas
Joint Tenancy Pros and Cons
Joint tenancy is a commonly used form of ownership between two or more people. It can be an easy solution. However, it can have drawbacks. Read on to learn more. Joint Tenancy Pros and Cons … [Read more...] about Joint Tenancy Pros and Cons
Beneficiary Designations, etc., Aren’t a True Substitute for a Trust
TOD / POD, beneficiary designations, and joint tenancy can be simple ways to transfer assets at death. However, these simple methods lack some of the benefits of a trust. Read on to learn more. Beneficiary Designations, etc., Aren’t a True Substitute for a Trust … [Read more...] about Beneficiary Designations, etc., Aren’t a True Substitute for a Trust
