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What to Know Before Adding a Child to Your Home Deed
Adding a child’s name to your deed can have significant consequences, particularly if you later need nursing home care and apply for Chronic Medicaid. Medicaid eligibility rules are complex, and transfers of property can directly affect whether benefits are approved.
An executor holds many important duties, and often must perform these obligations while navigating the grief of losing a loved one. Furthermore, complications such as advanced age or physical distance may make it difficult to perform the tasks required.
You should know that anyone can nominate you as executor of his or her Will, but there are many factors that determine whether acting as executor will be a smoothly paved road or a bumpy one.
Most of us think of an inheritance as a good thing—something you would never dream of turning down. But believe it or not, there are times when saying “no, thanks” to an inheritance actually makes sense.
The probate process can be lengthy, especially when a complex family tree is involved. Thankfully, the Surrogate’s Court provides a simplified alternative for “small estates,” through a process called Voluntary Administration.
The right of survivorship is very powerful and extremely difficult to challenge.
Probate is the process by which a last will and testament is accepted by the Surrogate’s Court.
Once the fiduciary receives letters and is appointed executor or administrator by the surrogate’s court, the fiduciary may provide reimbursements.
While it is not required to hire a lawyer to represent the executor of an estate, it is often a good idea to seek representation.
Naming a child on your bank accounts can lead to numerous consequences, including potential costly estate litigation.
If you are considering challenging the probate of a last will and testament, there are several factors to consider.
