Month: August 2013

A Last Will and Testament, known simply as a Will, is a formal legal document governed by strict statutory requirements. It directs how a deceased person’s property and assets will be legally distributed to named individuals and entities. People often misunderstand how property is transferred after death. They believe that when they name their spouse,...

Some topics are meant to be private. This list should include “what happens with my money and property when I pass away.” People are generally unaware that a Last Will and Testament is a public record. After you die, if a Last Will and Testament is the means by which your estate is administered, your...

It is not uncommon for an elder parent to add an adult child’s name to his or her checking or savings account, or to any other asset, thereby making the child a joint owner. While this is often done for convenience purposes, it can have serious, unexpected and undesirable consequences. Since the child legally owns...