The father of my three children died with no will. We were divorced. He owns a house and was married in the Philippines about two years ago. However, his new wife has not been given entrance to the U.S. What happens to his estate?
Are you the type of person who signs their will, sticks it in a drawer and never looks at it again? Or are you constantly updating and making small changes to your will, based on which one of your grandchildren has fallen out of favor?
I have appointed my oldest son as agent using a durable power of attorney form I got on the Internet. I want to be sure he understands his responsibilities, if he has to manage my money and pay my bills when I become ill.
People should have a minimum of a valid will, a durable power of attorney and a healthcare power of attorney. These three documents can provide for your wishes, either upon becoming incapacitated or your passing.
Most of us have heard the quote from Benjamin Franklin, ‘In this world, nothing is certain except death and taxes.’
Congratulations, you have finally signed your estate planning documents. Now, where do you keep them?
If the will does not specifically provide a bequest of the home and the will says everything goes 50/50 to you and your sister, then the executor has the right and responsibility to sell the home to carry out the bequest.
If you haven’t discussed your parents’ long-term financial goals with them, you aren’t alone.
Everyone knows what a will is. However, do you know the importance of having one? What does this document mean and what are the reasons why you should prepare a will? What happens to your money and property, if you don’t have one?
A probate lawyer can provide a variety of services to you, if you’re struggling to deal with matters related to your loved one’s estate.
