20 Questions to Ask about Wills and Estates
How to avoid common mistakes when making a will. What are the best ways to avoid probate? How much/little can I leave my spouse? When is it fair to treat my children unequally? How should I leave money or property to someone not old or wise enough to manage it? These are the questions that you should be asking when you draw up one of the most important legal documents is your life: your will. The field of wills and estates contains many traps for the unwary: probate courts can tie up your property for a year or more and generate thousands of pounds in fees and costs. Taxes can, in some cases, take almost half of the property you worked so hard to save. Your most personal wishes - including whether to keep you on life support if you become incapacitated - can be left to the mercy people you don't know or don't trust.
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Administrator Agent Agent’s authority Amount Exempt Amount annual appoint assets attorney-in-fact Beneficiary benefit child contributed creditors Decedent Decedent’s death decision Declarant disabled distributed dividends divorce document Durable Healthcare Power durable power elective share erty Estate Planning Estate T Estate Estate Tax ex-spouse executed Executor Exempt Amount Exempt fees Fiduciary funds Gift Tax give grandchildren Grantor HIPAA Holographic husband included income tax inheritance insurance policies interest JTWROS Karen Ann Quinlan lawyer leave lifetime man’s Marital Deduction Marital Property marriage married minor children mother’s Nancy Cruzan owner parents party patient’s payment Power of Attorney pre-printed Premarital Agreement premiums Principal Principal’s Probate Court Probate proceedings procedures receive Remarried require Revocable Living Trust revoke Roth IRA Separate Property siblings signed situations Special Needs Trust specific spouse’s surviving spouse Term terminate Terri Schiavo Testator’s tion transfer treatment Trust Agreement Trust Company uestion Q usually widow