The cost of probate varies depending on several factors, including: the value of the deceased person’s assets, the complexity of the estate
and the state in which the probate occurs. One way to avoid probate costs is to create an estate plan that includes a living trust.
Plan For The Road Ahead
Firm News
The 3 Reasons You Need an Estate Plan
Estate plans are NOT only for the insanely wealthy. Do you have wishes for the management of your assets? Do you desire your loved ones are taken care of after you pass away? If so, you should set up an estate plan. Its cheaper and simpler than you might think. Especially when you have a knowledgeable, professional, a customer focused law team to guide you through the process.
What to Expect When your Children Inherit Money
When a minor child inherits money, the money will usually be placed into a trust or custodial account until they reach the age of majority, which is typically 18 years old in most states. The specifics of how the money is managed will depend on state law and the terms of the will or other legal document that governs the inheritance. As minors, children are not able to handle their own legal and financial affairs, so their inheritance must be taken care of for them.
How Do You Choose The Right Business Structure?
When starting a business, choosing the right business structure is a crucial decision that can affect your taxes, liability, and management approach. There are four main types of business structures: sole proprietorships, partnerships, corporations, and limited liability companies (LLCs). Each type has its own advantages and disadvantages. Read along to find out more.
What is a Living Trust and How Does it Avoid Probate?
A living trust is a legal entity that you create and control. You can set up rules for your beneficiaries to receive any of your assets after you die. You do not have to be wealthy to set up a living trust. If you have a life insurance policy, for example, setting up a living trust can be an excellent choice for your beneficiaries.
How to get started
If you are interested in learning more about how Windrose Law Center PLC can help you, we invite you to give us a call to schedule a no cost initial consultation.
How to Protect Your Business After Your Death
We often have small business owners reach out to us to create their estate plan, and one question that is always on their mind is: how do I protect my business after my death? Fortunately, there are a range of options to consider when deciding how to protect your business in your estate plan.
Top Legal Documents You Must Have to Start a New Business
What are the top legal documents you must have to start a new business? Learn the important documents that new and existing business owners need to make sure are in place to protect their business.
What will happen to my child if I die?
What happens to my children if I die? How do I create a guardian designation? What happens to my money if I die? Does my child receive my money if I die? Who handles my child’s money if I die? Knowing the answers to these important questions will help you to make the right decisions to prepare for the unexpected.
Why Should You Update Your Estate Plan After a Divorce
Learn how to protect yourself after a divorce and why updating your estate plan after a divorce is so important.