Using a No-Contest Clause in Wills and Trusts
If you are worried that disappointed heirs could contest your will or trust after you die, one option is to include a “no-contest clause” in your estate planning documents. A no-contest clause provides that if an heir challenges the will or trust and loses, then he or she will get nothing. A no-contest clause may be a good idea if you have a beneficiary who may be upset by the...
Read MoreProbate v. Non-Probate: What Is the Difference?
When planning your estate it is important to understand the difference between probate and non-probate assets. Probate is the process through which a court determines how to distribute your property after you die. Some assets are distributed to heirs by the court (probate assets) and some assets bypass the court process and go directly to your beneficiaries (non-probate assets). The probate...
Read MoreDealing with a Deceased Loved One’s Debt Collectors
The last thing anyone wants after the death of a family member is calls from debt collectors dunning the loved one’s estate. While some family members can be contacted by debt collectors, the family is protected from abusive, unfair, or deceptive practices. Usually the estate is responsible for paying any debts the deceased may have left. If the estate does not have enough money, the debts...
Read MoreDo-It-Yourself Will Leads to Unwanted Result
If you choose to write your own will, you run the risk of not having your estate distributed the way you want, as a recent Pennsylvania case illustrates. George Zeevering apparently wanted his estate to go to two of his five children. Instead of seeking out an elder law attorney to advise him on drawing up an estate plan, he decided to write his own will. The will gave his pickup truck to his...
Read MoreDisinheriting A Relative
You may feel that you have given one child more during your life, so he or she should get less in your will. Or you may want to cut out an heir altogether. Whatever the reason, disinheriting a close relative–especially a spouse or a child–can be complicated. It generally is not possible to completely disinherit a spouse. Even if you don’t leave your spouse anything in your...
Read MoreMay Someone With Dementia Sign a Will?
Millions of people are affected by dementia, and unfortunately many of them do not have all their estate planning affairs in order before the symptoms start. If you or a loved one has dementia, it may not be too late to sign a will or other documents, but certain criteria must be met to ensure that the signer is mentally competent. In order for a will to be valid, the person signing must have...
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