Why Should I Use Estate Guru Professional?
What if I Need Help or Get Stuck While Creating my Estate Plan?
What is the Difference Between Estate Guru and Everyone Else? Traditional Lawyers?
Estate planning is a process not an event. You don’t just prepare documents and your done. Life is forever changing and as a result so too must your estate plan. Estate Guru was created with this reality in mind. Here is why Estate Guru is better than everyone else:
- We are not just a document engine. We focus on the entire estate planning process – creation, funding, modification and settlement.
- Your estate planning documents are reviewed at least once a year by the attorney associated with your documents.
- We help you identify and create the documents you need.
- An attorney is responsible for your file.
- Guru’s proprietary analytics (an intelligent system) monitors your activities in real time to ensure that you never attempt to do anything that may cause you harm.
- Your documents are securely stored in Guru so you can access them anytime from anywhere.
- You can share your documents with whomever you desire with the simple click of a mouse.
- We proactively manage your plan for you so you do not have too – simply respond to our annual review email and know that your plan is always current and up-to-date.
- Guru is simple, convenient, and affordable – the way estate planning should be.
How Can I Access my Documents If I am Away From my House?
If you only have printed documents, welcome to the Stone Age. If you want to have access to them on the road you will be the guy carrying the binder full of documents. All documents created using Estate Guru automatically reside securely on the web and can be retrieved anytime, anywhere from any device connected to the Internet.
How Can I Access my Documents If I am Away From my House?
If you only have printed documents, welcome to the Stone Age. If you want to have access to them on the road you will be the guy carrying the binder full of documents. All documents created using Estate Guru automatically reside securely on the web and can be retrieved anytime, anywhere from any device connected to the Internet.
When Should I do my Estate Plan?
What is the Best Way to Transfer Wealth to Your Children When You Die?
That said, if the children in question are minors you have to take into account their maturity and ability as well as consider what receiving wealth at a young age will do to their motivation and productivity (consider what you would have done with a half million dollars at age 18? Hello red sports car – good-bye college). So most practitioners recommend that wealth be held in trust for minors and sprinkled out over time as they mature and life skills develop. This type of sprinkling distribution can be achieved using either a will or a trust.
What Does Estate Planning Entail?
Should Life Insurance be a Part of Your Estate Plan?
Is it Difficult to do Your Own Estate Planning?
Is Estate Planning the Same as a Will?
Is Estate Planning Only for the Wealthy?
Is a Living Trust Worth the Time, Effort, and Cost for a Small Estate?
The difference is between the two is how you manage your assets. With a trust you have to retitle every asset, on an asset-by-asset basis, to reflect ownership inside the trust. While not difficult, it is a time consuming and occasionally frustrating process. Once your assets are owned by your trust they will avoid probate. How much your survivors will save is based on where you live and how much your assets are worth at the time of death.
Basically the effort you put forth to retitle your assets saves your survivors time and hassle of doing it when you die. So you decide, clean up your own mess or leave it up to someone else to do once you have passed, the choice is yours.
If Estate Documents are Created in One State, Will They be Valid in Another?
How Often do I Need to Update my Estate Planning Documents?
How Hard is it to Make Changes to Our Estate Plan?
What is Purpose of Estate Planning?
• You don’t love anyone
• You don’t own any assets
• You want to make sure everyone is frustrated if you die or become incapacitated
If any of these fit your situation, then do nothing. Otherwise, login to identify and create the documents you need.
Who Needs Estate Planning?
What is the Difference Between a Health Care Directive and a Living Will?
- A Living Will – outlines your wishes about life support and other kinds of life sustaining medical treatment, such as the use of antibiotics, feeding tubes, hydration, etc.
- A Durable Power of Attorney for Health Care – empowers someone (depending on your state of residence known as “agent”, “attorney-in-fact”, “proxy”, “surrogate”, or “patient advocate”) to make medical decisions for you if are unable to do so for yourself.
- HIPPA Release Form – authorizes doctors to disclose information in your medical files record with a 3rd party. Without a valid HIPPA Release Form, your healthcare provider is prohibited from disclosing or even discussing your medical information with anyone who is not directly related to your medical care.
Power of Attorney
What is the Difference Between a General and Durable Power of Attorney?
What is a Power of Attorney (POA) and How Does it Work?
Most power of attorney documents require that your agent submit proof that you are incapable of managing your affairs before they can take over your affairs. This requirement is usually satisfied by written letter from 2 physicians or if necessary by court order. Once adequate evidence of incapacity is received the individual you named as your agent is ready to act in every way as if they were you.
Is a Financial POA Valid After Death?
Who Else Needs to Worry About Probate?
You should be very concerned about the estate plans of your parents, however. Their plans, or lack thereof, will impact you directly as you will be responsible for affairs when they die.
So complete your estate plan and then make sure your parents are all set to go.
What is a Letter of Testamentary (also known as a Grant of Probate)?
What is Probate Real Estate?
Probate real estate is real property subject to the probate process. Title dictates whether or not a piece of real estate is subject to probate. If title on the property was:
- Sole and separate property of the decedent – it is very likely that property will be subject to probate
- Tenants in common – it is very likely that the decedent’s share of the property will be subject to probate
- Joint-tenants with rights of survivorship – usually avoids probate
- Community property – usually avoids probate
- Trustee of living trust – usually avoids probate
What is Probate Property?
Any property subject to the authority of the probate court is known as “probate property”.
What is a Probate Lawyer?
A lawyer who specializes in probate law is known as a probate lawyer. They often assist individuals in preparing a last will and testament or other estate planning documents.
What is Probate Law?
Every state has statutes that govern how they will administer the affairs of their citizen’s upon death. Taken collectively, these statutes are referred to “probate law”.
What is Probate Estate?
Upon your death, all the assets you own which are subject to probate (i.e., transferred to beneficiaries under the terms of a will and subject to the authority of probate court) are referred to as your “probate estate”.
What is Probate?
Probate is the official administration of your affairs upon death. The process varies state by state. It is a legal proceeding whereby the court ensures your wishes outlined in your last will and testament are accomplished, assets are appropriately distributed, and taxes and creditors are paid. The process varies state by state, but generally requires that you either fill out forms or appear in court to:
- prove that the decedent’s will is valid (unless someone is contesting the will, this usually requires nothing more than presenting death certificate and copy of the will)
- obtain legal authority to act on behalf of the decedent
- inventory and value all decedent’s property
- pay all decedent’s debts and taxes
- distribute any remaining property according to the terms of the decedent’s last will and testament
Trusts
What is the Best Way to Transfer Wealth to Your Children When You Die?
Depends how you define “best”. The best usually means that the asset has been transferred with the least amount of cost and hassle (read avoid probate) in the shortest amount of time.
That said, if the children in question are minors you have to take into account their maturity and ability as well as consider what receiving wealth at a young age will do to their motivation and productivity (consider what you would have done with a half million dollars at age 18? Hello red sports car – good-bye college). So most practitioners recommend that wealth be held in trust for minors and sprinkled out over time as they mature and life skills develop. This type of sprinkling distribution can be achieved using either a will or a trust.
What Happens to my Stock if I Die Without a Will or Trust?
Stock certificates are usually held in a brokerage account. When you established your brokerage account you identified the owner (how title is held), and in some cases how the stock is to handle upon your death (known as a beneficiary or pay on death designee). Irrespective of whether or not you have a will or a trust how title and the beneficiary designation will determine what happens to the stocks in your brokerage account.
What Happens to my Assets if I Do Not Have a Will or Trust?
What Factors Should I Consider When Choose an Executor for my Will (or Successor Trustee for my Trust)?
What is the Difference Between a Successor Trustee and an Executor?
What are Things I Should Consider When Deciding on a Will or a Trust?
Is a Living Trust Worth the Time, Effort, and Cost for a Small Estate?
If I Have a Living Trust do I Still Need a Will?
Can You Have Stipulations in a Trust?
Wills
What Should I Know About Writing a Will?
What Happens to my Stock if I Die Without a Will or Trust?
What Happens to my Assets if I Do Not Have a Will or Trust?
What Happens to Assets I Do Not List in my Will or Trust?
What Happens to Assets I Do Not List in my Will or Trust?
What Factors Should I Consider When Choose an Executor for my Will (or Successor Trustee for my Trust)?
What is the Difference Between a Successor Trustee and an Executor?
What are Things I Should Consider When Deciding on a Will or a Trust?
Should 20-year Olds Prepare a Will?
Is it Possible to Get a Will Written Without a Lawyer?
Is Estate Planning the Same as a Will?
If I Have a Living Trust do I Still Need a Will?
Yes. The will is called a pour-over will as your living trust will be the sole beneficiary (details about asset distribution are found in the trust not the will). In addition, guardians of your minor children are named in your will.
What is a Pour Over Will?
A pour-over will is the name of a will that is used in conjunction with a revocable living trust. A pour-over will has two primary purposes; 1) to name the guardian of any minor children and, 2) to ensure that any assets not titled in the name of the living trust at time of death are distributed to the living trust by the process of probate.
Why Should I Use Estate Guru Professional?
What if I Need Help or Get Stuck While Creating my Estate Plan?
What is the Difference Between Estate Guru and Everyone Else? Traditional Lawyers?
Estate planning is a process not an event. You don’t just prepare documents and your done. Life is forever changing and as a result so too must your estate plan. Estate Guru was created with this reality in mind. Here is why Estate Guru is better than everyone else:
- We are not just a document engine. We focus on the entire estate planning process – creation, funding, modification and settlement.
- Your estate planning documents are reviewed at least once a year by the attorney associated with your documents.
- We help you identify and create the documents you need.
- An attorney is responsible for your file.
- Guru’s proprietary analytics (an intelligent system) monitors your activities in real time to ensure that you never attempt to do anything that may cause you harm.
- Your documents are securely stored in Guru so you can access them anytime from anywhere.
- You can share your documents with whomever you desire with the simple click of a mouse.
- We proactively manage your plan for you so you do not have too – simply respond to our annual review email and know that your plan is always current and up-to-date.
- Guru is simple, convenient, and affordable – the way estate planning should be.
How Can I Access my Documents If I am Away From my House?
If you only have printed documents, welcome to the Stone Age. If you want to have access to them on the road you will be the guy carrying the binder full of documents. All documents created using Estate Guru automatically reside securely on the web and can be retrieved anytime, anywhere from any device connected to the Internet.
How Can I Access my Documents If I am Away From my House?
If you only have printed documents, welcome to the Stone Age. If you want to have access to them on the road you will be the guy carrying the binder full of documents. All documents created using Estate Guru automatically reside securely on the web and can be retrieved anytime, anywhere from any device connected to the Internet.
When Should I do my Estate Plan?
What is the Best Way to Transfer Wealth to Your Children When You Die?
That said, if the children in question are minors you have to take into account their maturity and ability as well as consider what receiving wealth at a young age will do to their motivation and productivity (consider what you would have done with a half million dollars at age 18? Hello red sports car – good-bye college). So most practitioners recommend that wealth be held in trust for minors and sprinkled out over time as they mature and life skills develop. This type of sprinkling distribution can be achieved using either a will or a trust.
What Does Estate Planning Entail?
Should Life Insurance be a Part of Your Estate Plan?
Is it Difficult to do Your Own Estate Planning?
Is Estate Planning the Same as a Will?
Is Estate Planning Only for the Wealthy?
Is a Living Trust Worth the Time, Effort, and Cost for a Small Estate?
The difference is between the two is how you manage your assets. With a trust you have to retitle every asset, on an asset-by-asset basis, to reflect ownership inside the trust. While not difficult, it is a time consuming and occasionally frustrating process. Once your assets are owned by your trust they will avoid probate. How much your survivors will save is based on where you live and how much your assets are worth at the time of death.
Basically the effort you put forth to retitle your assets saves your survivors time and hassle of doing it when you die. So you decide, clean up your own mess or leave it up to someone else to do once you have passed, the choice is yours.
If Estate Documents are Created in One State, Will They be Valid in Another?
How Often do I Need to Update my Estate Planning Documents?
How Hard is it to Make Changes to Our Estate Plan?
What is Purpose of Estate Planning?
• You don’t love anyone
• You don’t own any assets
• You want to make sure everyone is frustrated if you die or become incapacitated
If any of these fit your situation, then do nothing. Otherwise, login to identify and create the documents you need.
Who Needs Estate Planning?
What is the Difference Between a Health Care Directive and a Living Will?
- A Living Will – outlines your wishes about life support and other kinds of life sustaining medical treatment, such as the use of antibiotics, feeding tubes, hydration, etc.
- A Durable Power of Attorney for Health Care – empowers someone (depending on your state of residence known as “agent”, “attorney-in-fact”, “proxy”, “surrogate”, or “patient advocate”) to make medical decisions for you if are unable to do so for yourself.
- HIPPA Release Form – authorizes doctors to disclose information in your medical files record with a 3rd party. Without a valid HIPPA Release Form, your healthcare provider is prohibited from disclosing or even discussing your medical information with anyone who is not directly related to your medical care.
Power of Attorney
What is the Difference Between a General and Durable Power of Attorney?
What is a Power of Attorney (POA) and How Does it Work?
Most power of attorney documents require that your agent submit proof that you are incapable of managing your affairs before they can take over your affairs. This requirement is usually satisfied by written letter from 2 physicians or if necessary by court order. Once adequate evidence of incapacity is received the individual you named as your agent is ready to act in every way as if they were you.
Is a Financial POA Valid After Death?
Who Else Needs to Worry About Probate?
You should be very concerned about the estate plans of your parents, however. Their plans, or lack thereof, will impact you directly as you will be responsible for affairs when they die.
So complete your estate plan and then make sure your parents are all set to go.
What is a Letter of Testamentary (also known as a Grant of Probate)?
What is Probate Real Estate?
Probate real estate is real property subject to the probate process. Title dictates whether or not a piece of real estate is subject to probate. If title on the property was:
- Sole and separate property of the decedent – it is very likely that property will be subject to probate
- Tenants in common – it is very likely that the decedent’s share of the property will be subject to probate
- Joint-tenants with rights of survivorship – usually avoids probate
- Community property – usually avoids probate
- Trustee of living trust – usually avoids probate
What is Probate Property?
Any property subject to the authority of the probate court is known as “probate property”.
What is a Probate Lawyer?
A lawyer who specializes in probate law is known as a probate lawyer. They often assist individuals in preparing a last will and testament or other estate planning documents.
What is Probate Law?
Every state has statutes that govern how they will administer the affairs of their citizen’s upon death. Taken collectively, these statutes are referred to “probate law”.
What is Probate Estate?
Upon your death, all the assets you own which are subject to probate (i.e., transferred to beneficiaries under the terms of a will and subject to the authority of probate court) are referred to as your “probate estate”.
What is Probate?
Probate is the official administration of your affairs upon death. The process varies state by state. It is a legal proceeding whereby the court ensures your wishes outlined in your last will and testament are accomplished, assets are appropriately distributed, and taxes and creditors are paid. The process varies state by state, but generally requires that you either fill out forms or appear in court to:
- prove that the decedent’s will is valid (unless someone is contesting the will, this usually requires nothing more than presenting death certificate and copy of the will)
- obtain legal authority to act on behalf of the decedent
- inventory and value all decedent’s property
- pay all decedent’s debts and taxes
- distribute any remaining property according to the terms of the decedent’s last will and testament
Trusts
What is the Best Way to Transfer Wealth to Your Children When You Die?
Depends how you define “best”. The best usually means that the asset has been transferred with the least amount of cost and hassle (read avoid probate) in the shortest amount of time.
That said, if the children in question are minors you have to take into account their maturity and ability as well as consider what receiving wealth at a young age will do to their motivation and productivity (consider what you would have done with a half million dollars at age 18? Hello red sports car – good-bye college). So most practitioners recommend that wealth be held in trust for minors and sprinkled out over time as they mature and life skills develop. This type of sprinkling distribution can be achieved using either a will or a trust.
What Happens to my Stock if I Die Without a Will or Trust?
Stock certificates are usually held in a brokerage account. When you established your brokerage account you identified the owner (how title is held), and in some cases how the stock is to handle upon your death (known as a beneficiary or pay on death designee). Irrespective of whether or not you have a will or a trust how title and the beneficiary designation will determine what happens to the stocks in your brokerage account.
What Happens to my Assets if I Do Not Have a Will or Trust?
What Factors Should I Consider When Choose an Executor for my Will (or Successor Trustee for my Trust)?
What is the Difference Between a Successor Trustee and an Executor?
What are Things I Should Consider When Deciding on a Will or a Trust?
Is a Living Trust Worth the Time, Effort, and Cost for a Small Estate?
If I Have a Living Trust do I Still Need a Will?
Can You Have Stipulations in a Trust?
Wills
What Should I Know About Writing a Will?
What Happens to my Stock if I Die Without a Will or Trust?
What Happens to my Assets if I Do Not Have a Will or Trust?
What Happens to Assets I Do Not List in my Will or Trust?
What Happens to Assets I Do Not List in my Will or Trust?
What Factors Should I Consider When Choose an Executor for my Will (or Successor Trustee for my Trust)?
What is the Difference Between a Successor Trustee and an Executor?
What are Things I Should Consider When Deciding on a Will or a Trust?
Should 20-year Olds Prepare a Will?
Is it Possible to Get a Will Written Without a Lawyer?
Is Estate Planning the Same as a Will?
If I Have a Living Trust do I Still Need a Will?
Yes. The will is called a pour-over will as your living trust will be the sole beneficiary (details about asset distribution are found in the trust not the will). In addition, guardians of your minor children are named in your will.
What is a Pour Over Will?
A pour-over will is the name of a will that is used in conjunction with a revocable living trust. A pour-over will has two primary purposes; 1) to name the guardian of any minor children and, 2) to ensure that any assets not titled in the name of the living trust at time of death are distributed to the living trust by the process of probate.