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What Is Involved In Setting Up A Living Trust

Setting up a living trust is the best way to ensure your assets are passed onto the right people if you pass away. So how do you start the process?          

The first advice I would give you is to consult an estate planning attorney. This is in the area where self-help and online resources like LegalZoom can get you into trouble. If the trust and follow-up steps are not done correctly, you can have totally wasted the time and money you may have invested in the program. 

After you have found a qualified attorney, follow these steps...


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Part 6: The Cost Of Probate Alternatives

In this series of blogs, I am outlining various types of probates or probate alternatives to settle an estate and their likely costs. As I mentioned in the introduction to this series, the cost is predominantly determined by the type of procedure followed. 

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Part 5: The Cost Of A Full Dependent Administration

In this series of blogs, I have outlined various different types of probates and probate alternatives to help you settle an estate and understand the potential costs. As I mentioned in the introduction to this series, the cost is predominantly determined by the type of procedure followed. 

  • In Part One, I discussed probate as a muniment of title, which is usually one of the least expensive procedures. 
  • In Part Two, I discussed the cost of an independent administration of the estate. Both of those procedures require the decedent to have had a will. 
  • In Part Three, I discussed how if there is no will, the least expensive way to settle the estate through a court proceeding is a small estate affidavit. 
  • In Part Four, I discussed the high cost of a proceeding to determine heirship and for administration of the estate.

Today, I’ll walk you through dependent administration, a type of proceeding that can potentially be more expensive.


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It’s Not Too Late For A “Postnup” Agreement

Your wedding day has come and gone, and you never got around to drawing up that prenup agreement. 

There is good news. If you and your spouse can agree on the parameters, it’s not too late to outline how your property will be classified, as community or separate, how your joint finances will be handled, and support for children from prior marriages —even if you’re already married. You can still accomplish this through a postnup agreement. 

The sooner you create a postnup after the marriage, the easier it is. However, a postnup agreement can be done at any time, regardless of how long you have been married. 

A postnup agreement even can be a tool in an estate plan to clearly delineate each spouse’s separate property if the plan for distribution of that separate property is different from the rest of the estate plan. 

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Part 4: The Cost Of A Determination Of Heirship Proceeding

In this series of blogs, I am outlining various different types of probates or probate alternatives to settle an estate and their likely costs. As I mentioned in the introduction to this series, the cost is predominantly determined by the type of procedure followed. 

In Part One, I discussed probate as a muniment of title, which is usually one of the least expensive procedures. In Part Two, I discussed the cost of an independent administration of the estate. Both of those procedures require the decedent to have had a will. In Part Three I discussed how if there is no will, the least expensive way to settle the estate through a court proceeding is a small estate affidavit.

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Part 3: The Cost Of A Small Estate Affidavit

In this series of blogs, I am outlining various different types of probates or probate alternatives to settle an estate and their likely costs. As I mentioned in the introduction to this series, the cost is predominantly determined by the type of procedure followed. 

In Part One, I discussed probate as a muniment of title, which usually is one of the least expensive procedures. In Part Two, I discussed the cost of an independent administration of the estate. Both of those procedures require the decedent to have had a will. If there is no will, the least expensive way to settle the estate through a court proceeding is a small estate affidavit.  

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Why You Should Have A Statutory Durable Power Of Attorney

Purpose Of A Power Of Attorney 

An important component of an estate plan is a statutory durable power of attorney, otherwise called a general power of attorney. This power of attorney allows you to name an agent or agents to carry on business type activities on your behalf if for any reason you are not able to do so yourself. 

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Part 2: The Cost Of Probate As An Independent Administration

In this series of blogs, I am outlining various different types of probates or probate alternatives to settle an estate and their likely costs. As I mentioned in the introduction to this series, the cost is predominantly determined by the type of procedure followed. In Part One, I discussed probate as a muniment of title, which usually is the least expensive procedure. Many times that type of probate is not appropriate, though, and an independent administration is required.

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Part One: The Cost Of Probate As A Muniment Of Title

In this series of blogs, I am outlining various different types of probates or probate alternatives to settle an estate and their likely costs. As I mentioned in the introduction to this series, the cost is predominantly determined by the type of procedure followed. This type of probate is the least expensive formal, court-administered proceeding. 

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What Is The Cost Of Probate Or Administration Of An Estate?

One of the first questions the family of a loved one that has passed will ask is, “What will it cost to settle the estate?”

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