It’s common for people to disinherit family members for various reasons. When consulting with clients who want to specifically exclude someone from their estate plan, they ask, “should I give them $1?” My answer is always an emphatic, “absolutely not.” I’m not 100% sure when or how...
Unfortunately, people often surmise that Crain & Wooley staff exaggerate or, in the very least, stretch the truth regarding the current probate process, who must go through the probate process and how that process interacts with Last Wills and Testaments. Occasionally, a story hits the...
Avoiding probate and court supervision while wrapping up an estate is a point of emphasis in almost every estate plan I provide. When I explain that using a Revocable Living Trust will allow them to put a Trustee of their choosing in place to handle...
One of the many great things about using a Revocable Living Trust for your estate planning instead of a traditional will is that you’re better able to restrict how and when money is given to beneficiaries. Some clients want to give direct, cash distributions to...
Generational wealth is a relatively simple term with broad connotation. It is defined as simply the passing down of assets from one generation to another. Generational wealth sort of sounds like a reason for a Vanderbilt to never have to work a day in his...
Do the terms equal and fair mean the same thing to you? Many families find themselves discussing “fair” vs. “equal” when working with Crain & Wooley. Do any of these situations sound like something that could reasonably happen in your family? These real clients’ stories...
There is common thinking that says if you want something done, do it yourself. Although this might be true in some situations, it is not the best approach when it comes to representing yourself in court. Abraham Lincoln said, “He who represents himself has a...
Some people say that probate is easy. The definition of easy is often based on perspective and experience. For example, a DMV employee might think it is easy to obtain or renew a driver’s license. However, over the past two years there have been numerous...
One’s 18th birthday is a momentous occasion. No longer a child, but not quite a full-fledged adult, right? At 18, you can vote, drive without most restrictions, buy or sell real estate, enter into contracts and more all while starting college or a chosen profession....
Even the most organized, proactive person is often at a loss for “what to do next” when faced with the death of a loved one. Overwhelming grief and sadness often cloud decision making. However, there are practical steps that can to be taken to help...