Probate in Connecticut can be a long and complicated process. Many people would prefer to avoid this process and not have to spend time and money going to court to facilitate the transfer of wealth to new owners. Still, while probate can be a big hassle, the proceedings do serve a purpose. Probate is the […] The post Is Probate Necessary in Connecticut? appeared first on Nirenstein, Horowitz & Associates P.C..
The process of contesting a will involves challenging the validity of a last will and testament that has been created by a deceased person. The process occurs during probate and it can be a complicated one, but it could result in a will being declared invalid and not being probated. In the right circumstances, contesting [ ] The post Pros and Cons of Contesting a Will appeared first on Nirenstein, Horowitz & Associates P.C..
The probate process is the process by which the majority of property transfers after a death, unless estate planning steps have been taken to facilitate the transfer in other ways. Assets that transfer through the probate process may be subject to estate tax if the estate is a large one. It can also take several [ ] The post List of Probate Assets appeared first on Nirenstein, Horowitz & Associates P.C..
The Connecticut probate process is a formal legal process which takes place after most people pass away. There are ways to avoid having assets transfer through probate, such as by creating a comprehensive plan to transfer assets via other means such as trust administration and pay on death accounts. However, even if assets have transferred [ ] The post Myths about the Connecticut Probate Process appeared first on Nirenstein, Horowitz & Associates P.C..
Hartford probate is a process which must take place after most deaths. The process can be a complicated one, especially if there are questions about who should inherit or about whether a will is valid. The executor, if one was named, is going to be in charge of moving the estate through the probate process [ ] The post What are the Steps to Hartford Probate? appeared first on Nirenstein, Horowitz & Associates P.C..
Connecticut probate is a process by which a person s assets will be transferred following his or her death. The process is required in most situations, but it can sometimes be avoided through careful estate planning. As you are making your plans for what will happen after your death, you need to decide whether or not [ ] The post Why Would You Want to Avoid Connecticut Probate? appeared first on Nirenstein, Horowitz & Associates P.C..
The process of inheritance planning is not a cookie-cutter affair. Each person is in a different situation, and there are myriad different circumstances that can exist. This is why personalized attention is important when the estate planning process is underway. At the same time, there are certain basics that every estate plan will cover. Exactly how these necessities are addressed will vary, but the framework is widely applicable. In this post, we will look at the anatomy of an inheritance plan, and we also look at some specific circumstances that can call for specialized inheritance planning. Will or Trust The facilitation of postmortem asset transfers is at the core of the inheritance planning process. You have to make sure that assets get into the hands of your loved ones after you pass away, and there are different ways to go about it. Of course, there is the legal document called a last will or last will and testament. Everyone has heard of this document, and you can state your
Probate is a legal process that enters the picture if you have property in your sole and direct personal possession at the time of your death. During probate the probate court determines the validity of the will, and the court supervises the administration of the estate. Inheritances are not distributed until after the estate has been probated. The process provides certain protections, but the heirs to the estate may experience some negatives while the estate is being probated. One of them is the time factor. The process can run its course in a little bit less than a year under ideal circumstances. This can be a significant length of time when you are waiting for an inheritance. More complicated cases can take much longer. Cost is another consideration. There are a number of different expenses that can accumulate during the probate process. A third drawback is the loss of privacy. Anyone who wants to know how you distributed your assets can access probate records. Connecticut Probate
The process of inheritance planning involves the execution of various different legally binding documents. There are basic estate plans, and more complex estate plans. First we will look at the anatomy of the basic estate plan, and then we will take a glance at some of the more complex inheritance planning techniques. The Last Will or Last Will & Testament A very common inheritance planning device is the last will or last will and testament. Just about everyone has heard of this document. It is used to record your final wishes regarding how you want your financial assets distributed among your heirs after you die. There are a couple of other things to consider if you are using a last will to arrange for the transfer of your assets. Someone has to actually conduct the business of the estate after you pass away. This individual is called the executor or personal representative. It should be noted that a female estate administrator is sometimes called an executrix. When you are planning
There are some myths that circulate with regard to estate planning and last wills. Most people have heard of the role of the executor. An executor is someone who handles the administration of the estate after an individual passes away. Many people assume that there is a reading of the will, and after it is read among family members, the executor can distribute assets more or less immediately. In reality, things do not work in this manner. There is a legal process called probate that enters the picture. The estate executor would be required to admit the will to probate under state laws. It would be up to the probate court to supervise the administration of the estate. The will would be examined to determine its validity, and the executor would be required to notify creditors. They would be given a certain amount of time to come forward. Ultimately, the executor would prepare the assets for distribution among the heirs in accordance with the wishes of the decedent. If you think about it