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August 22, 2011
Write a Will
If you haven't taken time to write a Will, what's holding you back? Do you think you don't need one or that it's too costly? Do you think you're too young or that you don't own anything of value so what's the point? The point is everyone aged 18 and up needs a Will if for no other reason than to provide directives to loved ones.
Taking time to write a Will is by far the best thing you can leave behind. Doing so speeds up the probate process and ensures property and cash is transferred to the people you want to have it.
There are many ways to write a last will and testament. Some people download templates from the Internet and fill in the blanks. Others purchase do it yourself Will kits or utilize online services such as LegalZoom. Most prefer working with an estate planning service or probate lawyer.
Real Estate Investing article on "Write a Will"
December 19, 2009
Heir
Heir is the term used to reference an individual entitled to inheritance property. Legal heirs can include surviving spouse, biological or adopted children, and direct lineage relatives such as mother, father, sister or brother.
Each heir should be listed within last will and testament along with specific inheritance property they will receive. When decedents elect to disinherit heirs they should include a disinheritance statement within their last will. This provides evidence to the probate court the decedent knew the heir was alive, but intentionally chose to leave them out of their Will.
Real Estate Investing article on "Heir"
August 17, 2008
Probate Lawyers
Probate lawyers specialize in estate laws. They are typically retained to handle distribution of assets and file legal documents for a person who has died. In most instances, people needing the services of a probate lawyer will want to retain a Transactional probate lawyer. However, if conflicts arise within the family or when claims are filed against the decedent's estate, a Probate Litigator may be required.
Transactional probate lawyers handle estate administration duties. If the decedent has executed a Last Will and Testament, transactional probate lawyers will file a copy of the original Will at the local courthouse in the county where the decedent resided. If the decedent dies intestate (without leaving a Will), transactional probate lawyers will appoint an Estate Administrator and assist them in matters regarding the estate.
Real Estate Investing article on "Probate Lawyers "
July 26, 2008
Heir Apparent is Next in Line
Heir apparent refers to direct lineage descendents of a person who holds real estate, financial assets and valuable personal property. As long as the heir apparent outlives the property holder, by law they are entitled to inherit assets upon the property holder's death.
Typically, an heir apparent consists of children born to the decedent. If the decedent did not have children, the next closest lineal relative would become the heir apparent. For instance, if the decedent has no children, but has parents, siblings, aunts, uncles or cousins, the decedent's assets would transfer to the closest living relative.
Real Estate Investing article on "Heir Apparent is Next in Line"
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