America has a very car-centric culture. We drive everywhere — especially here in the Brandon, Mississippi area — and don’t bat an eye. We sing songs about our love of cars, watch movies with thrilling chase scenes, and consider car racing a sport. We polish our hotrods, get mud on the tires...
Continue reading…
If you have ever seen a movie or tv show where a family gathers to hear an attorney read a deceased loved one’s will aloud, you know what the Hollywood version of estate administration looks like. In reality, there is no dramatic family gathering in a black-draped parlor where family secrets are...
Continue reading…
While most estates take much less than a year to probate and administer, it has taken 15 years to settle the estate of James Brown. The Godfather of Soul died with an estate plan in place, but there were questions about his marital status, number of children, and the rights...
Continue reading…Probate is a legal process that occurs after a person dies, and it includes:
With extreme wealth accumulated, one would assume that celebrities would take steps to protect their estates. But think again: Some of the world’s richest and most famous people enter the pearly gates with no estate plan in place, while others have made estate planning mistakes that tied their fortunes and heirs up for years...
Continue reading…Q: What is probate? A: Probate is the process by which the court validates the authenticity of a will; appoints an executor (aka personal representative); and supervises the settlement of an estate, including the payment of bills, filing of tax returns, and transfer of assets to beneficiaries. If no will is presented, the court will...
Continue reading…In estate planning circles, the word “probate” often comes with a starkly negative connotation. Indeed, for many people — especially those with larger estates — financial planners recommend trying to keep property out of probate whenever possible. That being said, the probate system was ultimately established to protect the property of the deceased and...
Continue reading…As Ambrose Bierce once darkly observed, “Death is not the end. There remains the litigation over the estate.” Obviously, ideally, when someone passes away, the paperwork and material concerns associated with the estate are so flawlessly handled (thanks to excellent preparation) that they fade into the background, allowing the family to grieve and remember in peace. In fact,...
Continue reading…When you pass away, your family may need to involve the chancery court to claim their inheritance. This can happen if you own property (like a house, car, bank account, investment account, or other asset) in only your name. Although having a will is a good basic form of planning, a will does not avoid probate....
Continue reading…