The business succession process is relatively complicated, and apart from handing off the business to a new owner, there are various other aspects to consider. You will have to look into all of the assets, liabilities that apply for the move, ensuring that all the wealth you’ve amassed stays in the loop. Any carelessness could cost you a lot in the long run. Here’s what you need to work on: Read More
5 Considerations to Make During Estate Planning
Estate planning involves designating individuals who will be passed down your assets and who will handle your asset related responsibilities. Read More
Spousal Support Claims – Laws and Principles
A marriage is a legal union of two people who want to spend their lives together. There are certain rights and obligations of each spouse that have to be met. One of those rights is spousal support. The blog will discuss what spousal support is, its laws and principles, and how you can claim it. What Is Spousal Support? Spousal support is used interchangeably as spousal maintenance and alimony but there’s a Read More
Administrator Removal: How to Do It the Legal Way
Very often, it happens that the beneficiaries aren't satisfied with an administrator. Whether they aren't happy with how they handle the probate process or how they breach their fiduciary duties, this can become a ground for removing an administrator. But do beneficiaries have the right to challenge the administrator's actions in court? Can heirs request the removal or replacement of an administrator? This blog Read More
What Happens To Your Estate If You Die Without a Will
When an individual passes away without having a valid will in place, they’re deemed by the law to have died interstate—which means that the administration and distribution of their estate will be done in accordance with the legislation. On the other hand, when you have a will, you can dictate the distribution of your estate and appoint an executor of choice who ensures your wishes are carried out. Who Administers Read More
3 Common Mistakes Made by Executors
Being an executor is not as easy a role as one might assume. An executor has to deal with the loss of a loved one while simultaneously trying to get their will implemented and their estate distributed. The whole process involves a lot of legal leg work and documentation; so, it’s actually quite easy to make mistakes along the way. Seeing as when you become an executor you gain legal authority to finalise a person’s Read More
Your Will & Pension: What You Should Know
The will you make should ideally include details for how you would want all your assets to be settled and distributed amongst all your beneficiaries. People will add the different properties they own, the liquid money and valuables they have, and the money they expect to get to be distributed. Most people would expect that money owed to you from your workplace would also end up in the same assets pile, but that’s Read More
Debt and Probate: What You Need to Know
Most people have their legacies, properties, and assets on their minds when drafting their Testament and Last Will. But several other things must be considered and specified in an estate plan. For example, specifying what happens to your outstanding debts or those of a loved one after they pass away is crucial. If you owed a loan or debt in your lifetime, your family will be responsible for paying for it, depending Read More
Probate vs. Non-Probate: What Is the Difference?
When a loved one has passed on, you will inevitably need to begin the work of settling their estate, which will involve going through the probate process with a Queens probate lawyer. In order to ensure your loved one’s property is distributed properly, it’s necessary to understand the difference between probate vs. non-probate assets. What Is Probate? The probate process proves the validity of a will before a Read More
