A trust must be funded with trust assets to be valid and enforceable. There is no limit on the type of assets placed in a trust. A trust can be funded with a variety of assets. A trust can be funded with real property, such as residential houses, commercial property,...
Probate is the court-supervised process for distributing a deceased person’s assets, including their money and property. The operative words are “court-supervised.” There are pros and cons to probate. While lawyers often focus on probate’s negative...
Having an estate plan is a smart idea for several reasons. One reason is that YOU get to decide what happens to your money and property when you die. Without a plan, the state where you live determines how your assets are distributed. And you might not like the...
While you are alive and competent, you should plan for incapacity. It is an essential part of an estate plan and the estate planning process. When possible, court proceedings for guardianship and conservatorship should be avoided. Here is why Patty is single and...
An agent, sometimes called the attorney-in-fact, is authorized to act on behalf of someone else or on behalf of a legal entity. Sometimes agents are hired to represent a client in negotiating the terms of an agreement. An example might be a literary agent...
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