The term “probate” refers the legal procedure used by courts to determine whether a person’s will is valid. Probate can also refer to the process by which an executor or personal representative gathers a decedent’s assets to pay the debts, taxes and final expenses and then ultimately distributes the remaining assets to the beneficiaries listed in the decedent’s will.
Help Me Understand the Nebraska Transfer on Death (“TOD”) Deed Nebraska has adopted a new method of transferring ownership of real estate upon the death of the owner. Effective January 1, 2013 we may now use a revocable transfer on death deed (“TOD Deed”) in Nebraska. The TOD Deed will operate in a similar fashion… Read More
A recent US News and World Report blog succinctly states What you Need to Know About Estate Planning. Taking excerpts from The Wall Street Journal Complete Estate Planning Guidebook, the author states: • ‘Everybody needs to think about estate planning’; • ‘The number one [estate planning] mistake is not doing anything at all’; • ‘[T]he… Read More
One area that is often overlooked in the divorce process is the need to update estate planning. Most people would agree that their ex-spouse is the last person they want to inherit their assets when they die, or to have that person make life and death decisions for them. But that is exactly what can… Read More