Estate Law

Whether you are in the process of planning your estate or you are simply leaving your home and moving somewhere else, there may be a time in your life when you want to leave your home to your...

Form 1041 is the income tax return filed with the IRS by the fiduciary of an estate that receives income after a taxpayer dies. If an executor has been appointed for the estate, then the executor...

When an individual (known as a decedent) passes away, the ownership of income, property or assets he or she transfers to an estate. This allows the executor to handle the decedent’s affairs,...

When a loved one passes away, the emotional toll can be devastating. Unfortunately, even after death, the decedent's credit card debts will still remain active. The family must protect the estate...

A federal employer tax identification number (EIN or FEIN) is a unique identifying number for employers and other entities that must pay federal taxes. The estate of a person who has died is...

Inheritance taxes, also sometimes called death taxes, are state taxes on money and property received by inheritance. The person who accepts an inheritance, such as the son or daughter of a...

How to Pick Probate Attorneys or Probate Lawyers. Probate Court is where matters of an estate go, such as contesting a will or administration of estates. This is often a highly sensitive issue...

A personal representative is responsible for managing an estate. The duties of a personal representative are set by law, so you should check your state's probate laws to determine the specific...

In order to claim the property of a deceased relative, you need to file a small estate affidavit. The property value must not exceed that determined by the state in which the property is located....

When a loved one goes missing, we always want to cling onto the hope that he or she will return safely. But after enough time has passed, and we begin to try and mourn our loss and move on with...

Federal estate tax is imposed by the IRS on the transfer of any taxable portion of an estate. To determine federal estate tax, calculate the adjusted net estate, then review the estate tax chart...

The law provides individuals the ability to decide the fate of their property even after they have died. Many of these laws come from old English law, which was designed by aristocrats to maintain...

A death in the family brings lots of emotions, but it can also bring about a lot of questions. Often, those questions are financial in nature, and though this is a delicate time, it is important...

Probate is a legal process pursuant to which a decedent's last will and testament is formally submitted to the court in order to be reviewed for authenticity and thereafter for the assets to be...

As you near the point where you may pass on from this life, you need to decide how to deal with the property that you have accumulated during your lifetime. The choices you make can have...

If you live in Ohio, knowing the difference between probate and non-probate assets may enable you to lower the amount of estate taxes paid. That in turn could lead to a higher amount paid to the...

The state of North Carolina allows different types of estate planning documents. Some documents are used during the person's lifetime, while others only come into effect at death.

Many families face the death of a loved one after a lingering illness. A common question that arises in such a situation is whether a surviving spouse is liable for medical bills. The fact is that...

Probate is the act of proving that a will, or any document classified as a will, was signed and executed in accordance with legal requirements. There is an accepted national set of probate laws...

The procedures for small estates are designed to provide a streamlined probate process where there are insufficient assets in an estate to warrant the full probate procedure. The rules and...

Under the law there is a specific procedure for opening an estate in probate court in Michigan. "Opening an estate" refers to the process of starting an estate case in probate court.

A joint tenancy is a legal way for multiple people to own a single parcel of real property. Joint tenancy is the preferred method of co-ownership because it provides significant benefits upon the...

The federal estate tax can take huge chunk of money out of an estate, with the estate tax rate currently at 45 percent. Fortunately, you can claim some deductions that will result in a lower tax...

To be appointed as an executor, an individual needs to meet certain standards. There are very specific qualifications for an executor established by law. The failure to meet any one of the basic...

The cost of hiring a probate lawyer varies throughout the United States. Each state has a set of statutes and guidelines necessary for the transfer of property after death. The requirements that...

Estate taxes can be a significant burden to beneficiaries of a wealthy decedent. The amount taxable varies from year to year and always gives the grantor---the person giving the property away---a...

Broadening, expanding and diversifying your investment portfolio is a wise course. Toward this objective you can consider creating wealth through probate. Individuals from different walks of life...

An estate tax is a federal tax, imposed by the Internal Revenue Service, that applies generally to estates worth at least $1 million. The federal gift tax is a tax that people who receive gifts...

There are three essential stages associated with probate action in Florida. First, under Florida law, a person seeking to initiate a probate proceeding needs to prepare and file a petition with...

Your estate is the total all of your property when you die. If it is worth enough money, your estate will have to pay a federal estate tax, sometimes called the "death tax," before any of your...

Oregon, like many other states, charges an inheritance tax. This tax is imposed on heirs and beneficiaries of property transfers from a deceased person's estate. As is often the case with state...

A revocable trust and a will are not mutually exclusive. Both types of documents are used to transfer property to heirs after death and each has relative strengths. In fact, for some, it may be...

Technically speaking, an inheritance tax is different from an estate tax. The latter is a tax on a decedent's gross estate, while the former is levied against the share an individual receives of...

You may need a probate lawyer to draft a will or trust documents, or open an estate in court following the death of a family member. No matter the circumstances, there are certain documents that a...

The purpose of drafting a last will and testament is to direct the disposition of your estate after your death. But many people die without a valid will or their wills do not address the...

Although most people have heard reference to a probate court, many individuals do not know all of the primary functions of this type of court. The fact is that there are several different reasons...

There are many ways to prepare your estate, providing instructions about how assets are to be passed on to your heirs. Along with devising a last will and testament and trusts, you must make sure...

Estate planning is a very important responsibility. Therefore, if you are at the juncture in your life at which you are undertaking estate planning, you need to engage the services of a qualified...

Estate planning is an extremely important step to take if you have any assets that you want to make sure to pass to your heirs in the most financially prudent manner. To ensure that you select the...

A will and a living trust work hand in hand, and both are essential pieces of most good estate plans. Fortunately, you don't have to choose between a living trust and a will. Both serve their own...

An estate plan is a collection of legal documents that plan for your present and future well-being. A typical, basic estate plan includes a living trust, a will, a power of attorney and a living...

When an individual dies, the person likely leaves property behind. Frequently, a last will and testament is also left behind, which indicates how the decedent wanted any property or assets...

When a loved one dies, a lot of financial questions arise. In every case, your best bet is to consult a trusts and estates attorney. Still, a few rules of thumb can help you figure out your own...

When a loved one dies you are grief stricken and overwhelmed with the amount of things to do. Putting together an Estate Sale seems like an impossible task. You need someone to walk you through...

Buying a car in probate or in an estate sale is one way to get a high-quality automobile without paying the prices found at dealerships. If you plan to buy an automobile this way, you must have...

Although many people turn to the Internet when they begin to plan their estates, wills, and trusts, it is important to remember that the information is general and may not be up-to-date or valid...

Too many lawyers will take your money to help them learn a new area of law, and wills, powers of attorney, health care directives, and estate administrations are good examples of this. Estate...

An estate plan is a compilation of critical legal documents that cover unfortunate events such as incapacity or death. A will is probably the most critical aspect of the estate plan, but an estate...

Most people have imagined what they would do with a sudden windfall. These musings usually involve paying off debts and make luxurious purchases. Is there a downside to inheriting besides the...

When people refer to estate tax, they are probably referring to the federal estate tax, and not state inheritance or estate taxes. The federal estate tax is paid out of an estate before any other...