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Delaware Estate Planning Lawyer.com
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Did You Know?
A Will, is sometimes called a "Last Will and Testament"
Used to transfer property you hold in your name to the person(s) and/or organization(s) you want to have it. A Will also typically names someone you select to be your Personal Representative (or "Executor") to carry out your instructions and names a Guardian if you have minor children. A Will only becomes effective upon your death, and after it is admitted to probate.
Newsroom
Latest news about Financial & Estate Planning in Delaware and nationwide:
The First Step In Estate Planning
Inventory everything you own and assign a value to each asset. Here's a list to get you started. You may need to delete some categories or add othe... Read more >
Not Much More Than Deciding To Write
Estate Planning use to be not much more than deciding to write a Last Will and Testament, and hiring a lawyer to follow through with this decision.... Read more >
Definition:
A provision of a will or trust that disinherits a person in the event that he/she challenges the terms of the will or trust. Sometime called a No-Contest Clause.
Probate
Definition:
The process through which the legal title to property is transferred from a decedent to the beneficiaries. If a person dies with a will (testate), the probate court determines if the will is valid, hears any objections to the will, orders that creditors be paid and supervises the process to assure that property is distributed by the Personal Representative or Executor according to the terms of the will. If a person dies without a will (intestate) the probate court appoints an Administrator who receives all claims, pays creditors, and then distributes all property according to the laws of the state.
Family Limited Partnership
Definition:
A legal partnership agreement between members of a family for the management and control of property for the benefit of family members. Sometimes used to minimize transfer taxes.
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