Estate Planning FAQs

Do I really need to open an estate?

The answer to this depends upon how the deceased's assets are owned: jointly or solely.

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Should the estate be testate or intestate?

If an individual has a Will, the administration should be testate.

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Should the estate be supervised or unsupervised?

A Will can specify that an estate be unsupervised; however, if there is need for the Court's guidance or approval, the estate needs to be supervised.

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Do I need a Will?

A Will is your guideline for disposing of your assets. It can also assist in collecting debts owed to you at your death. A Will can pass all assets into a trust that can be administered over a period of time to accommodate specific situations in your life and after your death. It can be as simple or complex as you desire.

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Does a loved one need a guardian?

If you have a loved one who is having difficulty making personal and financial decisions, it may be time they have a designated person appointed who can protect the individual and their valuables from being mismanaged or stolen. The law is very specific of what the guardian is responsible to do to ensure the safely of the individual and their estate.

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Would a trust be beneficial in preserving my assets?

Trusts are designed specifically for an individual to move one's assets outside the estate administration. The individual's assets are disposed of thru the terms of the trust and not a will. The trust can have one's estate assets disposed over a period of time to help preserve the assets and to more effectively dispose of them. The terms of the trust can be complicated depending upon the assets.

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