The bad news: probated estates are subject to a variety of costs from attorneys, executors, appraisers, accountants, courts, and state law. Depending on the probate’s complexity, fees can run into tens of thousands of dollars. The good news: probate costs can be reduced by avoiding probate. It’s really that simple. Here are three simple ways […]
Probate Court
How To Avoid Sending Your Loved Ones (and Assets) Through Probate
Today many people are using a revocable living trust instead of a will or joint ownership as the foundation of their estate plan. When properly prepared, a living trust will avoid the public, costly and time-consuming court processes of conservatorship or guardianship (due to incapacity) or probate (after death). Still, many people make a big […]
The Top 2 Ways the Court Gets Involved in Your Estate, and How to Avoid Them
No one wants unnecessary court involvement in their life. But without careful and proactive estate planning, chances are that some aspect of your estate will end up being decided there. Here are two of the most common ways court proceedings can make their way into the management and distribution of your assets, along with the […]
Michael Jackson’s Estate Pulled Into Seemingly Endless Probate Court Battles
Michael Jackson, the “King of Pop,” had always been a controversial superstar. Over the years, he became the father of three children, Prince Michael Jackson II, Paris-Michael Katherine Jackson, and Michael Joseph Jackson, Jr. While Jackson created a trust to care for his children and other family and friends, he never actually funded it. The result? Embarrassing […]
Skyrocketing Probate Fees – Another Reason to Avoid Probate Court
As of July 1, 2015, Connecticut probate courts earned the dubious distinction of charging the highest probate fees in the U.S.. Amazingly, the Connecticut legislature voted to completely cut general fund support for the state’s probate courts for the next two fiscal years, thereby creating a $32 million deficit. In order to cover the shortfall, the […]