Inheritance disputes can strain family relationships and create lasting divisions. To avoid these conflicts, consider the following steps: Create a Clear and Comprehensive Estate Plan: Ensure your will or trust is up-to-date, clearly outlining your wishes for asset distribution. Include detailed instructions to avoid ambiguity. ...
Estate planning is crucial for single parents, as it ensures that your children are cared for and your assets are managed according to your wishes in the event of your passing. Here are key considerations: 1. Appoint a Guardian for Your Children The most important decision...
In today’s digital age, protecting your digital assets—such as social media accounts, online banking, and cryptocurrency—is an essential part of estate planning. These assets often have both sentimental and financial value, making it crucial to include them in your estate plan. 1. Create an Inventory of...
Estate planning is a critical process that ensures your assets are managed and distributed according to your wishes after you pass away. For homeowners, having a solid estate plan in place is especially important. At Genesis Law, PA, we understand the unique challenges homeowners face...
UNDERSTANDING HEIR PROPERTY Heir property refers to land owned by the descendants of a deceased individual where the probate process was never completed. This can lead to a myriad of complications, as the legal heirs and rightful owners of the property remain uncertain until the probate...
Probate can be a time-consuming and expensive process that many people wish to avoid. One effective way to bypass probate is by designating pay-on-death (POD) beneficiaries for your bank accounts. This simple yet powerful estate planning tool ensures that your assets seamlessly pass to your...
Many disabled individuals rely on government benefit programs to make ends meet. Certain programs, such as SSDI and Medicaid, are subject to asset thresholds. This means that if a person receiving government benefits puts enough money in the bank, they will lose their benefits. As...
Children’s inheritances are subject to specific laws to ensure that they are protected. Florida Statute section 744.301 provides that a child’s natural guardians may collect an inheritance up to $15,000.00 dollars for the minor. For an inheritance over $15,000.00 a guardian of the property should be...
Careful planning during your lifetime can allow your family to avoid probate upon your death. This allows assets to be available immediately, free from creditor’s claims. Some tools for avoiding probate are simple and free, while others are more complex and require the help of...
Summary estate administration generally takes around 8 weeks to complete in an uncontested case. This can vary depending on the law firm handling the case, the parties involved, and the court the case is filed in. In a formal estate administration, it typically takes around 4-6...