Previous blogs explained what ‘probate’ is, how the estate administration tax (popularly called “probate fees”) are calculated and how spouses might be able to arrange their affairs to avoid probate on the death of the first to die. (more…)
Archive for the ‘Estate Administration’ Category
How Can I Avoid Probate? – Part Three
Wednesday, August 26th, 2009How Can I Avoid Probate? — Part Two
Sunday, August 23rd, 2009
Understandably, many of our clients wish to avoid probate. To explore how this might be done, if at all possible, it is essential to review the ownership of all assets, beneficiary designations, family relationships, tax implications as well as relationships among family members and the goals of the client. Only then can we recommend what steps should or should not be taken to avoid probate. Avoiding probate is usually possible when one spouse dies leaving a surviving spouse. For example, probate is not generally required if the spouses own assets jointly or where an asset, such as life insurance, is payable to the surviving spouse by way of a beneficiary designation. (more…)
How Can I Avoid Probate? — Part One
Thursday, August 13th, 2009
In this five-part blog, I will discuss what probate is and how probate fees are calculated, which assets are subject to probate and which are not, when it makes sense to avoid probate and how to accomplish that, and when avoiding probate may not be the best strategy and why. (more…)
When Will a Court Remove an Attorney for Property?
Monday, May 25th, 2009Attorneys for property take note! A recent court decision, Re Schaefers, has provided some guidance as to when the court will remove an acting attorney for property. Generally, the court will not interfere with the choice of an attorney who has been named in a valid Power of Attorney signed by a capable person (the ‘donor’); however, there are times when a court finds that it must intervene. This was one such case. Throughout this blog, where I refer to ‘attorney’ I mean the substitute-decision maker named in a document called a Power of Attorney. In this blog, an attorney does not mean a lawyer. (more…)