Most of the time when we talk estate and probate litigation, we're discussing matters that relate to probate processes and estate administration. There are times you might need to bring legal action before a person passes away, though, especially if you believe an elderly loved one is suffering from financial abuse. Financial abuse can occur when someone exerts excessive and unnecessary control over an elder's finances or if someone in a position of trust -- such as a power of attorney or court-appointed guardian -- misuses his or her position.
Mistakes in completing beneficiary forms for retirement accounts, investment portfolios or IRAs can cause some issues in probate and estate administration. In the best cases, beneficiary forms are aligned with all the other plans you have for your estate. In the worst cases, they don't exist or are opposite the information in your estate. Here's a look at three mistakes you can make with regard to beneficiary forms.
When someone you love passes away, there are often many details to attend to. You might be involved in planning a service or cleaning out a home, or you might simply be struggling to understand your loss or explain death to your children. You might not have the emotional bandwidth or time to face a drawn-out probate matter on your own, which can make it tempting to just give in to whatever the other parties want.
We've talked a lot about probate litigation and probate matters in the past few weeks. But what, exactly, is probate, and what does it have to do with your estate?
Whether you're getting ducks in a row for your retirement or seeking some advice while in retirement, you might consider working with a number of professionals who can help you grow, manage and secure your money. Professionals from both financial and legal niches can offer advice that could help you increase the coffers or save hassle and money down the road.
Wills are one of the ways that someone communicates one's last wishes to family, friends and others. This is an important tool for both the decedent and the family members and heirs, and we understand that tensions can run high when someone claims that a will is not valid for any reason.
Trustees have certain responsibilities when they are in charge of funds that are designated for a family and their heirs. While the money is not theirs, they have the responsibility to see it is used and dispersed as is set up and defined in the trust. One trust that was being overseen by three trustees is accused of allowing the father of two siblings to completely drain it of funds for his own personal vendetta.
While the majority of wills are never challenged, once you are gone, you have no possibility of ensuring that yours is not. The time to do it is now. There are steps you can take to make sure your will is upheld, and that your heirs do not challenge it.
How do you probate your deceased loved one's Last Will and Testament? When a loved one dies, you may not feel much like dealing with the process of dispersing his or her assets, but unfortunately, there are always loose ends that must be dealt with. An attorney is probably your best method for doing this and can relieve a lot of the pressure and stress off of you so you can be free to deal with your grief.
The billionaire chairperson and founder of giant tortilla-making corporation passed away in August 2012, after a long struggle with pancreatic cancer, at 81 years of age. The man's company, Gruma Corp., owns the brand names Mission, Guerrero, Maseca and more and before his death, he controlled a fortune of approximately $4 billion.