Tag: estate planning

Protect Your Tomorrow: A Simple Estate Plan Today
December 4, 2023 Off

Protect Your Tomorrow: A Simple Estate Plan Today

By The Admiral Staff

The article discusses estate planning, even for those with limited financial resources, emphasizing that an estate includes all assets like bank accounts, cars, and homes. It highlights the complexities of probate, the court-supervised asset distribution process, and encourages avoiding it by designating beneficiaries on retirement and bank accounts. Five simple steps are suggested: making bank accounts payable upon death, reviewing beneficiary designations, creating advance directives for healthcare decisions, utilizing online will services for simple estates, and discussing final arrangements with family to prevent unnecessary expenses

Inheritance Battle: Stepson’s Rights When a Will is Missing
February 25, 2023 Off

Inheritance Battle: Stepson’s Rights When a Will is Missing

By The Admiral Staff

Three stepsons are seeking legal advice after their father died without a will, leaving over $1 million in assets. The stepmother, already receiving three pensions, is unwilling to share the inheritance. The stepsons likely have legal recourse and should consult with an estate attorney in their state to explore options such as arguing their father’s wishes or negotiating inclusion in the stepmother’s will. The executor is obligated to follow the deceased’s wishes, not the stepmother’s preferences.