Is a Handwritten Will a Smart Idea?
A holographic will is a will handwritten by the testator (the maker of a will). Holographic wills are recognized in about half of the states in the United States.
September 21, 2021
A holographic will is a will handwritten by the testator (the maker of a will). Holographic wills are recognized in about half of the states in the United States.
At some point in your life, you may find yourself an administrator, a beneficiary or a creditor of a probate estate. You may even want this information for planning your own estate.
Over the years I get all kinds of questions from people. And boy, have I heard some doozies. But one common one I get is called the ‘lazy (or poor) man’s (or woman’s’) estate planning.’ This type of estate planning has some very negative tax consequences.
Buying a home is one of the most common triggers for creating an estate plan.
A proper estate plan will help those left navigate the disposition of assets and the probate court system, especially for unmarried couples and some married same-sex couples.
Do I need a trust in case something happens to me?
It may seem like a grim way to spend your free time, but planning your estate when you are young can actually give you the peace of mind you will need to enjoy your golden years in the future.
Many of our parents completed their estate plans decades ago. The documents may still be valid. However, if they are stale or outdated, you may spend significant money trying to use them down the road.
Trusts give parents of special-needs children additional options for extending care and financial assistance. However, you might need some expert help.
Your estate plan is much more likely to be successful, when you recognize and avoid the most common mistakes and take some key actions that often are overlooked.