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Probing Probate: What You Should Know

Probing Probate: What You Should Know

By N. Brian Caverly, Esq. and Jordan S. Simon from Estate Planning For Dummies   Probate is a term that is used in several different ways. Probate can refer to the act of presenting a will to a court officer for filing — such as, to “probate” a will. But in a more general sense, probate refers to the method […]

Making a Financial Power of Attorney in the District of Columbia (D.C.)

Making a Financial Power of Attorney in the District of Columbia (D.C.)

  Know what a D.C. financial power of attorney can do for you. Why do I need a financial power of attorney in D.C.? If you become ill or injured and you can’t take care of your own finances, someone else must step in to help. With a financial power of attorney (also called a […]

Wills: Why You Need One

Wills: Why You Need One

by Rebecca Berlin   Many people wonder if they really need a will. They may think that they don’t have enough assets to bother with a will. Some people erroneously believe that a will causes your heirs to have to go through probate, leading to unnecessary expenses. However, a will is a good idea for […]

No Need To Be A Dummy About Trusts!

No Need To Be A Dummy About Trusts!

No Need To Be A Dummy About Trusts!   Trusts are an important part of your estate plan when you want to leave money to your minor children. Trusts ensure that money, managed by a trustee, is set aside and made available to them when they reach a certain age. Trusts are often complex, time […]

What Exactly Does “Probate” Mean?

What Exactly Does “Probate” Mean?

What Exactly Does “Probate” Mean?   After a person dies, ownership (the legal title) of his or her property, assets and personal effects must be passed on (legally transferred) to the beneficiaries (heirs) listed in the Will. If there is no Will, the persons receiving assets are designated by State law. “Probate” is the legal […]

What Is “Power of Attorney?”

What Is “Power of Attorney?”

What Is “Power of Attorney?”   This article serves as an introduction to powers of attorney, including explanations of legal terms, different types of power of attorney documents, and other important information.     The principal determines the amount of power given to the  attorney-in-fact, and this individual can be given the authority to deal […]

What Is A Living Will?

What Is A Living Will?

What Is A Living Will?   A living will is not actually a will. Often called an advance directive by doctors and nurses, a living will is a document that tells medical staff what treatment (if any) you want to receive in dire medical situations when you are unable to communicate. A living will can […]

Estates and Trusts

Estates and Trusts

During the early 1500’s in England landowners found it advantageous to convey the legal title of their land to third parties while retaining the benefits of ownership. Because they were not the real “owners” of the land, and wealth was primarily measured by the amount of land owned, they were immune from creditors and may […]