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April 2016 Archives

The basics of probate

Probate is the process by which a person's property is dealt with after he or she dies. It is supervised by the court and doesn't include property that already has another owner or is designated to another. For example, beneficiaries are named in life insurance policies. Bank accounts might be "payable on death" to the other listed party.

Make sure you have a will drafted

Many people don't like to think about their own mortality, putting off drafting a will and even signing advanced directives. But that can leave both you and your future heirs in a less than optimum position. Parents of young children should always have wills that lay out their plans for the guardianship of the minor children.

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