My Civil Advocate

We often hear a lot of confusion regarding the terms "will" and "trust", with some folks even thinking that they are one and the same, which is definitely not the case. Though both are key elements of estate planning, they serve distinct roles. A will only goes into effect after the will's creator  - also known as the testator - has passed away. The person then responsible for carrying out the desires of the testator and distributing assets to the beneficiaries is referred to as an executor. Executors are in charge of wills, not trusts. So, whats a trust? A trust is a legal arrangement under which one person or institution, called a trustee, holds legal title to property that will eventually be distributed to beneficiaries. Unlike a will, a trust can be "active" the moment it is created. It may be used to distribute property to beneficiaries prior to the death of the trust's creator (settlor), upon the death of the settlor, or delayed well afte...

Starting a family can be exciting, stressful, joyful, and daunting - all rolled into one. As with most endeavors, a little foresight and planning can go a long way. Prior to a newborn's arrival, know the facts about what and how much your health insurance will cover. Give some thought as to whether you want a doctor or midwife to provide prenatal care and deliver the baby. Choose a pediatrician before a baby's birth. In the workplace, find out how much maternity leave can be taken and how much of it will be paid. Inquire as to your employer's policies on taking time off for doctor's appointments or to prepare for adoption. Consider the steps you must take to get health insurance coverage for your bundle-of-joy-to-be. Research the safest baby products available and which ones to avoid. Is your home free of hazards? Do your homework on child safety seats. Know your legal rights to nurse in public. When returning to work after the birth, be informed on what your righ...

There are times when a person passes away and leaves behind a will that may surprise (or even shock) the survivors because of who is chosen to receive the assets. If you've been left out of a will or feel the terms of a will are unfair, there are certain instances when it may be worth challenging the validity of the will in court, such as when: Your loved one didn't seem mentally fit shortly before death but signed or made changes to his or her will during that time frame A lawyer didn't assist in drafting or executing the will (this can increase the chances that the will doesn't conform with state laws).  The will wasn't signed by your loved one or the signature on the document does not appear to be that of your loved one. Undue influence led to changes in the will. This is sometimes seen when caregivers push for changes that benefit them.  There are inconsistencies between beneficiary designations of the will and other aspects of your loved one's esta...

Any time you lose a loved one it can be difficult as you cope with your grief and try your best to move forward. However, things can get a bit more complex (and possibly even confusing) if you've been named as executor of that person's estate. If that happens-- and especially if you've never served in such a role -- you'll likely have many questions about what the probate process entails, including how long it will take. Simply put, probate is the process of transferring legal title of the decedent's property to the rightful beneficiaries or heirs. Unfortunately, there is no hard and fast rule for the time it takes to complete probate. In fact, it can take anywhere from several months to several years There are many factors that can impact the length of time probate takes to complete, including whether: Any creditor claims exist There is property that needs to be sold The estate has federal or state tax liabilities There are disputes among the heirs or ...

Sometimes, estate or trust administration appears to be all wrapped up, and the estate is officially closed or the trust is terminated. Then weeks, months, or years afterward, other assets are discovered. Now what? Generally speaking, guidelines to distributing assets discovered after an estate has been closed encompass the following: When someone dies intestate (without a will), state law determines the rightful heirs of the estate's property. Newly discovered assets will be distributed by the same formula.  If the decedent died and had a will, and if the estate needs to be reopened because of additional assets, the "new" assets will be distributed according to the provisions in the will, just as the "original" assets were. If the decedent passed away with a will that called for all assets to be placed in the decedent's trust, any new assets will wind up in the trust too, to be held, sold, or distributed in accordance to the terms of the trust. The ...