Category Archives: Inheritance

Assets, Estate Planning, Heirs, Inheritance

Estate Plan Costs

Posted on by Skvarna Law
How to contain estate plan costs
20
Sep

Generally, a more complicated estate plan (for example, a plan that includes continuing trusts, tax planning, or asset protection planning) will cost more, as it requires more time to prepare and a more experienced attorney. We caution you, however, from creating an estate plan that is overly simplistic and does not fully align with your goals just to save money on legal fees. A good estate planning attorney can recommend the “just right” estate plan to fit your needs without overcomplicating things and charging unnecessary fees for tools and features you do not need. 

Continue reading →
Assets, Beneficiary, Heirs, Inheritance, Probate

Automatic Inheritance Laws

Posted on by Skvarna Law
Automation Software Technology Process System Business concept.
13
Sep

Another issue with relying on state law is that none of the transfers to your loved ones happen automatically. Your family must open a probate estate with the court and go through the process specified in state law before your property can transfer out of your name and into theirs. This process can be long and costly. It is also public. Many people prefer that an inventory of their property and the details of their family stay out of the public eye. Perhaps the best way to keep your matters private is by creating and funding a revocable living trust while you are alive and have the legal capacity to do so.

Continue reading →
Assets, Estate Planning, Heirs, Inheritance, Trusts

Conditional Inheritance

Posted on by Skvarna Law
Accept Terms of use concept. Businessman reading terms and conditions of website or application then click button to go Next Step progress. Tick check mark for agree to contract term and condition.
09
Aug

When raising children, most parents hope to shape their children’s behaviors, provide them with specific values, and help them become productive members of society. Parents often use a “carrot and stick” approach to get the desired outcomes, incentivizing approved actions with rewards and discouraging unapproved actions with punishments. 

Continue reading →
Assets, Estate Planning, Inheritance, Trusts

Estate Planning Priorities

Posted on by Skvarna Law
Hand with marker writing the word Priorites
19
Jul

Many people want their loved ones to avoid the probate process because it can be expensive, time-consuming, and public. It can also be difficult for a loved one to manage while they are grieving. However, some people appreciate having a neutral third party (the judge) oversee the winding down of their affairs in the event there may is a conflict.

Continue reading →
Assets, Estate Planning, Heirs, Inheritance, Trusts

Addiction & Estate Planning  

Posted on by Skvarna Law
Young man with hands clasped together addiction
12
Jul

Estate planning often involves dealing with difficult situations. Putting off thinking about these decisions is not the solution. By delaying making plans for how best to care for an addicted loved one when you are no longer around, you risk losing an opportunity and control that can further complicate matters. 

Continue reading →
Assets, Estate Administration, Estate Planning, Inheritance, Trusts

Snow White Estate

Posted on by Skvarna Law
Snow White princess with the famous red apple.
05
Jul

Given Snow White’s young age when her father passed, it is likely that she was too young to manage a large sum of money or rule a kingdom without some guidance and oversight. Therefore, whatever he wanted to leave behind for Snow White could have been held in trust for her, either under his will as a testamentary trust or as a sub-trust of his revocable living trust. A trust would have allowed him to craft specific instructions on when and how Snow White would receive her inheritance. If the king created a separate sub-trust for Snow White, he could provide instructions so Snow White would receive her inheritance when the king died instead of waiting until her stepmother passed away to receive whatever was left over.

Continue reading →
Assets, Estate Planning, Inheritance, Trusts

Gloria Vanderbilt: Estate Planning Lessons

Posted on by Skvarna Law
Smiling senior 50s man sit relax on sofa in living room browsing internet on modern computer gadget, happy mature freelance worker rest on couch at home watch video surf wireless web on. Searching web
28
Jun

Before she died, Gloria Vanderbilt, heiress to the Vanderbilt fortune created by her great-great-grandfather, railroad and shipping tycoon Cornelius Vanderbilt, told her kids she would not leave them an inheritance. Gloria was herself the beneficiary of a trust fund worth an estimated $2.5–$5 million in 1925, or around $35–$70 million today, and had a reported net worth of around $200 million when she passed away. 

Continue reading →
Assets, Estate Planning, Inheritance, Probate

Wrongful Death and Probate

Posted on by Skvarna Law
Wrongful Death: Death caused by another person's negligence or intentional harm.
21
Jun

A wrongful death, as the term implies, is a death that results from the “wrongful” action of another, such as negligence, carelessness, recklessness, or intentional conduct. Both individuals and entities, such as businesses and governments, can commit a wrongful action that leads to death. For example:

Continue reading →
Estate Planning, Heirs, Inheritance

Estate Plan Chaos Caused by Disability

Posted on by Skvarna Law
Business decisions mess and information data chaos as strategy confusion tiny person concept. Company leader lost focus about solutions and future plans for success and development vector illustration
03
May

The Centers for Disease Control and Prevention (CDC), reports one in four US adults have some type of disability. Frustratingly, disability may render you unable to manage your own affairs. This is also known as being incapacitated. In this case, you will not be able to turn back the clock. So, make plans that will make your transition into a possible incapacity as smooth as possible. You can take meaningful actions prior to an incapacity. This protects your money, property, and legacy in the wake of any newfound limitations:

Continue reading →