Blog


Jun

13

2019

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Cost Of Drawing Up A Will VS. Probate Without A Will

Posted by: Adair M. Buckner

Many people are afraid of drawing up a will and doing other estate planning because of the perceived high cost. The truth is, drawing up a will is a small cost compared to the cost of probate of an estate if you die without a will and own almost any property.

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May

2

2019

image for How Prenups Dovetail With Estate Planning

How Prenups Dovetail With Estate Planning

Posted by: Adair M. Buckner

In a previous blog, I discussed why prenups may be beneficial to a couple marrying, whether or not they are rich and famous. A key reason to have a prenup is to contractually bind the other spouse to a plan for disposition of both estates on the death of either of them. In absence of the prenup, unless the couple draw up a joint, contractual will, each spouse is free to change their will at any time, during or following the death of the other spouse. Joint, contractual wills are rarely done.

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Apr

25

2019

image for Prenups Aren't Just For The Rich And Famous. 6 Reasons To Have A Prenuptial Agreement

Prenups Aren't Just For The Rich And Famous. 6 Reasons To Have A Prenuptial Agreement

Posted by: Adair M. Buckner

A primary purpose of a prenup is to override provisions under state law on many of these issues. A key prenup provision is that income on separate property remains separate property rather than being community property. This is not what state law provides otherwise. Before the marriage is the best time to give serious thought to these issues. However, if you are already married, a postnuptial agreement can still be done. Learn more about postnups here.

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Apr

11

2019

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What Is The Legal Process To Divide An Estate If There Is No Will?

Posted by: Adair M. Buckner

Families frequently come to me needing to know how to figure out who gets what when a loved one dies without a will. Unfortunately, the answer is that they may be in for a lot of expense and time in a very complicated legal proceeding.

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Apr

4

2019

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Should I Incorporate?

Posted by: Adair M. Buckner

Three key factors that go into making the decision of whether to incorporate or not are; Liability Protection For Personal Assets, Income Tax Pros & Cons, Business Management Pros & Cons.

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Dec

20

2018

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Why You Should Start Estate Planning In Your 20's

Posted by: Adair M. Buckner

Estate planning isn't just for rich or older individuals. Even young, asset-poor 20-somethings should start thinking about how their property will be distributed in the event of a tragedy. Drawing up an estate plan is not as much an action you need to take for yourself, but one you should take for your loved ones.

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Sep

27

2018

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Worried About A Loved One's Ability To Take Care Of Their Own Affairs?

Posted by: Adair M. Buckner

Hopefully, you recognize the issue before its too late to pre-plan. The time to seriously review all of a loved one's financial and estate planning affairs is in the early stages of Dementia or Alzheimer's. Progression of the degree of incapacity varies from person to person. Obviously, a visit to a physician for a diagnosis and treatment plan should be your first priority. Then a visit to an attorney should be next.

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Sep

17

2018

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How Do I Avoid Needing a Guardianship?

Posted by: Adair M. Buckner

Pre-planning is necessary to avoid needing a guardianship. People live much longer these days, and Dementia and Alzheimers are a common issue families face with loved ones or themselves. Pre-planning to deal with incapacity is very smart.

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Sep

11

2018

image for What Do I Do If A Loved One Dies Without A Will? (Part Two)

What Do I Do If A Loved One Dies Without A Will? (Part Two)

Posted by: Adair M. Buckner

Sometimes, we determine after a review of the assets of the deceased loved one that a more informal, less expensive Affidavit Of Heirship would be sufficient.

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Sep

4

2018

image for What Do I Do If A Loved One Dies Without A Will? (Part One)

What Do I Do If A Loved One Dies Without A Will? (Part One)

Posted by: Adair M. Buckner

Unfortunately, I get this call many times every day. If the property in the estate does not exceed the value of $75,000, not including the value of a homestead, a court proceeding called a small estate affidavit can sometimes be used. However, in most situations, this very simplified proceeding cannot be used. In those situations, there are generally are two options.

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