Estate Plan Etiquette + Probate Rules to Know

In honor of May being National Etiquette Month, we offer ways to bolster your estate plan by incorporating the key elements of etiquette. Furthermore, this month’s newsletter outlines circumstances that may indicate an update to your estate plan is calling. Lastly, we discuss some essential probate rules to know should you need to wind up a loved one’s affairs.

Infusing the Principles of Etiquette Into Your Estate Plan

A thoughtfully designed estate plan guarantees the preservation of your intentions and the well-being of your loved ones. Practicing proper etiquette is crucial in mitigating potential conflicts within your family while creating the plan. Therefore, it is essential to adhere to appropriate conduct throughout estate planning to facilitate a seamless and harmonious transfer of your assets to your loved ones. This entails transparent and truthful communication with family members concerning your intentions while valuing their viewpoints. Demonstrating respect and sensitivity towards your family members can prevent future legal complications due to disagreements.

Important Probate Rules You Should Know

Probate is the formal legal process of proving that a will is valid, appointing someone to carry out the deceased person’s wishes, and supervising the distribution of the deceased person’s money and property. While probate rules can vary by state, there are some important universal steps that you should be aware of. First, meeting deadlines and creating an inventory of the decedent’s assets is crucial. Then, notifying creditors, providing estate accounting records, and paying taxes is the next step.

Have You Outgrown Your Estate Plan?

As legal professionals specializing in estate planning, we dedicate ourselves to creating tailored estate plans that align with our clients’ requirements and harmoniously serve clients and their loved ones. The effectiveness of an estate plan relies on its ability to accurately reflect the client’s evolving circumstances and adhere to the prevailing state and federal tax regulations. Nevertheless, life circumstances frequently change, and so should your estate plan. Neglecting to update an outdated plan puts your desires and legacy at risk, potentially causing adverse consequences for your loved ones. To address this concern, we analyze the key factors that dictate when an estate plan should be revised and updated.

Read Law & Stein’s Full May Newsletter Here