Probate and wills
PROBATE
PROBATE IS THE COURT PROCESS WHEN A PERSON PASSES AWAY AND IT IS NECESSARY TO APPOINT A PERSONAL REPRESENTATIVE (EXECUTOR/TRIX) TO ADMINISTER THE ESTATE. MANY TIMES REAL ESTATE WILL BE LEFT IN THE DECEDENT”S NAME, AND IN ORDER TO SEEL OR EVEN TRANSFER THE TITLE, THE COURT NEEDS TO APPOINT SOMEONE.
EVEN WHEN THE REAL ESTATE IS IN JOINT NAMES, CERTAIN PAPERS HAVE TO BE FILED IN ORDER TO TAKE THE DECEASED PERSON’S NAME OFF OF THE TITLE.
OFTEN, OTHER ATTORNEY OFFICES WILL CALL UPON THE RYBERG LAW OFFICE TO HANDLE ADVERSARY MATTERS i.e. WHEN THE HEIRS OR OTHER PERSONS ARE NOT GETTING ALONG.
LAST WILL AND TESTAMENT
EVERYONE SHOULD HAVE 3 THINGS, NO MATTER HOW SMALL THE ESTATE; (sometimes the smallest estates create the most difficult relationships after the parents have died)
1. A LAST WILL AND TESTAMENT
2. A POWER OF ATTORNEY FOR PROPERTY ( used when you are no longer able to make financial decisions)
3. A POWER OF ATTORNEY FOR HEALTH ( used when you are no longer able to make decisions about your health i.e. brain injury, creeping dementia, do not resustitate orders
THE RYBERG LAW OFFICE CAN ASSIST IN MAKING SURE THAT THE CLIENT IS FULLY INFORMED OF ALL THE OPTIONS AVAILABLE, AND TO ASSIST IN RECOMMENDING THE MEANS TO ATTAIN YOUR DESIRES WHEN YOU ARE NO LONGER CAPABLE OF THESE DECISIONS.
TRUSTS
TRUSTS ARE NOT FOR EVERYONE. MANY PEOPLE BELIEVE THAT THEY NEED A TRUST IN ORDER TO AVOID PROBATE COSTS . THESE SAME PEOPLE BELIEVE THAT PROBATE COSTS ARE ASTRANOMICAL. THEY ARE NOT, SO LONG AS THE ATTORNEY FEES ARE SPECIFIC TO THE ACTUAL ISSUES.
AN ESTABLISHED TRUST HAS TO BE MAINTANED, AND OFTENTIMES A CLIENT WHO ESTABLISHES A TRUST FORGETS TO PLACE NEW ITEMS INTO THE TRUST, i.e. buys new real estate, or a new annuity, AND FAILS TO PLACE IT INTO THE TRUST OR MAKE THE TRUST THE BENEFICIARY OF THE ANNUITY.
TRUSTS CAN BE AN EXCELLENT VEHICLE FOR MAKING SURE THAT MINORS DO NOT RECIEVE A HUGE SUM OF CASH WHEN THEY REACH THE AGE OF MAJORITY. ( a 19 year old receiving over $100,000 may not be a good estate plan). SOME CHILDREN MAY NEED TO BE TREATED DIFFERENTLY i.e. an adult child on medicare or a child with drug, domestic relaitionship, or financial difficulties.
THE RYBERG LAW OFFICE WILL HELP YOU REVIEW THE OPTIONS AVAILABLE TO YOU, AND TO ASSESS THE TRUE NEEDS OF YOUR HEIRS AND BENEFICIARIES.
CALL 402 333 9201