A codicil is an addendum or amendment to a last will and testament. It takes priority over the original document, provided it is dated and witnessed correctly, and thus properly supersedes the will. The term itself comes from the Latin cōdicillus, which translates into “a short writing” – explaining exactly what a codicil should be. …
A person’s last will and testament is an important document governing their final decisions on the matter of their material possessions and estate. But not all wills are created equal. Every last will and testament must be legitimized in probate court, after the attorney, personal representative, or loved one of the decedent has petitioned for …
For those who see their animal companions as family members, a pet is not mere property, but a trusted loved one. And while most humans outlive their pets, some animals can be quite long-lived, and in other cases, an untimely passing might leave a pet homeless. Estate planning may mean the difference between knowing our …
Successor Trustee vs Executor Estate plans consist of legal documents that are signed, notarized, and kept safe in places like safety deposit boxes. But they also consist of people. And while the documents themselves serve as the foundation for an estate plan, what ultimately makes the plan work is the people who carry it out …
Prior to the pandemic, only about one in three Americans had a will, let alone another type of estate planning tool. That may be in part because death is an uncomfortable subject – but if you have any assets and any family, it is an important one. When we die, everything we own is distributed …
Leaving behind proof of your last will and testament is critical to seeing it honored after your death. Any document claiming to your last will is sure to be met with skepticism if it was not properly witnessed and notarized – after all, a document like a will determines who gets what after death and …
Intestacy laws determine who gets what after death, if no valid last will and testament was left behind. Intestacy refers to dying intestate, or without a testament of one’s final wishes regarding the contents of one’s estate. In general, intestacy laws dictate the succession in which a person’s relatives inherit their assets and personal property. …
Despite the rapid rate at which our technology evolves, we cannot yet be in two places at once. At least, not physically. While digital identification processes have made it easier than ever to open bank accounts and even start trading from the comfort of your living room, there are many processes for which we require …
What we own in life must be divided among the living when we die. It’s one thing to carry our favorite necklace or a wedding ring into the earth, but another to cling to the family home or the vintage convertible. The purpose of a last will and testament is to put a person’s wishes, …
We all dream of leaving behind a financial legacy to see our children through successful lives – to ensure their dreams and the dreams of their children can be made possible, through the hard work we endure in our day-to-day. But the reality can be starkly disappointing. The majority of “generational wealth” disappears by the …