Insights, strategies, and updates from the world of Trusts & Estates.
One of the most frequently asked questions that we receive from clients is whether they need to worry about estate tax. The answer to this is dependent on the value of their estate. Estate tax, otherwise known as "death tax," only comes into play when someone has an estate worth more than the federal estate tax exemption amount.
Most people associate estate planning with how they want their assets administered after they die. But what if someone becomes unable to act on their own behalf or make critical decisions during their lifetime?
When somebody with a will passes away, their estate goes through probate. In this article, we’ll discuss the probate process, what assets need to go through probate, as well as the benefits and disadvantages of probate proceedings.