Tag Archives: pros

Pros and Cons of Contesting a Will

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..

Living Trusts: The Pros and Cons

A living trust can be a good estate planning choice for a wide range of people. However, there are some objectives that a living trust will not accomplish. Let s look at the details. The Positives When it comes to the positive side of the ledger, a living trust can provide freedom and versatility. The person who establishes a living trust is called the grantor. The trustee is the trust administrator, and the beneficiary is the person who can receive monetary distributions from the trust. The grantor of a living trust will typically act as the trustee and the beneficiary throughout his or her life, so there is no loss of control. Many elders become unable to handle their own financial affairs at some point in time. With a living trust, you can empower a disability trustee to administer the trust in the event of your incapacitation, and this is a benefit. You name a successor trustee to handle the estate administration tasks after you are gone, and you name successor beneficiaries. Afte