Estate Archives | MRC Law Corp

Estate

Parental Warning: If You Own Your Property This Way, You May Accidentally Disinherit Your Own Children

Many people think that owning property jointly allows them to avoid probate completely. Probate is the court process of transferring a person’s solely owned accounts and property that has no beneficiaries when the person dies to their heirs-at-law. While joint property ownership avoids the probate process when the first owner passes away, it does not guarantee that probate will be avoided forever.Many people think that owning property jointly allows them to avoid probate completely. While joint property ownership avoids the probate process when the first owner passes away, it does not guarantee that probate will be avoided forever.

December 29, 2025

Estate

Planning for Real Estate in a Foreign Country

Living abroad is very different from spending a few weeks there. In addition to the challenges of adapting to a foreign culture, prospective buyers must be aware of the financial, legal, and tax implications of buying real estate abroad before signing the dotted line.

August 20, 2025

Trust maker of a living trust describing form to someone.

Asset Protection

The Lifetime QTIP Trust

Estate planning for couples in a second or subsequent marriage can be tricky, especially if their estates are disproportionate. One solution that allows the more affluent spouse to maintain control of their property and wealth and minimize potential estate taxes—while keeping their spouse happy—is the lifetime qualified terminable interest property (QTIP) trust.

June 18, 2025

Asset Protection

It’s Planning Season

To have a successful farm, thoughtful planning must be done every season. Your life is no different. To properly prepare for the next season in your life and the lives of your loved ones, you need a well-executed estate plan.

June 11, 2025

Asset Protection

Should I Buy a Home with Someone Other than a Spouse?

Rising housing costs, the desire for companionship, and the need to share resources are increasingly leading buyers to consider co-owning a home with someone other than a spouse, such as

April 23, 2025

Beneficiary

Life Estate vs. Right of Occupancy Trust: Which Is Right for You?

Planning for the future of your home can be complicated, especially when you want to ensure that a loved one can continue living there after you are gone. Two common

April 18, 2025

Estate

How to Give Real Property to a Loved One at Your Death Without Probate Court Involvement

A home is often one of the most important assets that people own. Therefore, most people want to stay in their home until they die and then have a loved

April 9, 2025

Asset Protection

Why Joint Ownership Should Not Be the Go-To Plan for Newlyweds

If you recently married or have been married for a while and have acquired additional money or property (or plan to), you have options regarding how your assets can be

March 26, 2025

Death

Demystifying Probate and the Executor’s Role

When creating a last will and testament (commonly known as a will), one of your most important considerations is who to choose to serve as the executor (also called a

May 6, 2024

Magnifying glass sitting on top of papers

Beneficiary

What Is a Residuary Clause and Why Is It Important?

With a residuary clause, you can intentionally disburse any items inadvertently left over to a named beneficiary or group of beneficiaries.

April 24, 2024