Having retirement accounts is essential to ensure you have a source of income when you have finished working, but what happens to these accounts when you pass away. Ideally, each retirement account should pass to your chosen beneficiary. Name Account Beneficiaries Each financial institution where you have a retirement account can provide you with a […]

Probate, the court process to settle an estate, can be a costly venture. The longer probate takes, the higher the cost will be. Lengthy probates occur most often with large estates, complicated estates, or estates with no Will. Here are some common probate costs your estate may endure. Legal fees Attorney fees are usually the […]

Life insurance is a contract that allows you to name a beneficiary to receive a specific amount of money in the event of your death. This type of insurance may be purchased at any time during your life. If you have people who depend upon you financially, life insurance is a must have. Replace Your […]

If you have ever been through a probate procedure before, you may already understand the hassle and expense that comes with this lengthy process. Did you know that you can take measures to help your family avoid probate when settling your estate? A Revocable Living Trust is a common tool for evading probate. What It […]

An estate plan is a legally documented plan that allows you to state your final wishes. It will assist with the process of settling your affairs in the event of your death or disability. Your estate plan can be tailored to fit your family situation and meet your financial needs. Disability Plan A disability plan […]

If you feel you don’t need the help of a lawyer or expert and that you can make your own Will by using a self-help kit, make sure your Will is reviewed by an expert experienced in estate planning laws. Self-help kits (and books) are great ways to learn about the process, but writing your […]

Court-appointed guardians handle the affairs of wards who have been incapacitated because of mental or physical illness, drug or alcohol abuse, or any other kind or type of disability. Since the ward (the incapacitated individual) is unable to manage assets, health and other matters, the guardian is authorized to undertake all actions, including the payment […]

The following is a summary of many of the rules for probating an estate, reprinted from Chancery Judges Ed Patten's newsletter and Larry Primeaux's blog.  Statutory order of preference for appointment of Administrator. § 91-7-63, MCA. * Surviving spouse. * Next of kin, if not otherwise disqualified. * Other third party, bank or trust company. […]

It has been a little more than a year since NFL quarterback and Mississippi native Steve McNair was murdered.  After an initial flurry of activity in the estate, the Estate has since been relatively quiet.  Although his estate was valued at approximately $19 Million, McNair died without even a basic will.  Initially it looked as […]

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