Brady Cobin Law Group, PLLC’s Post

⚖️ So, what happens if you don't file a probate claim? ⏳ Time is of the essence: Most jurisdictions impose strict deadlines for filing probate claims (60-120 days). Failure to meet these deadlines could result in losing your right to claim assets from the estate. So check early and often! 📜 Legal forfeitures: If you fail to file a probate claim within the allotted period, you may forfeit your reimbursement from assets in the estate. This means missing out on payment, prorata distributions, and more. 🔍 Asset distribution: Without a filed claim, the probate court may proceed with distributing the estate's assets to other beneficiaries or creditors who have timely filed their claims. 💼 Professional guidance is key: Don't navigate probate complexities alone. DCM Services and Probate Finder OnDemand are here to help with some of these hurdles, allowing you and your team to focus on new projects. To learn more, just DM me "I'd like to learn more" and we can chat more about the options you have! #probate #estaterecovery #banks #creditunions #revenuecyclemanagement #knowledge #buildabetterprocess

It is time for a Fun Fact (or in this case, not so fun). Did you know that in South Carolina, if you die without a will (also known as intestate), the intestate laws of the state determine who gets your probate assets? (Probate assets being defined as those assets that do not have a vehicle to transfer the property automatically at death such as a beneficiary designation or a joint bank account). For example, if someone dies without a will, many believe that their spouse will inherit everything automatically under the law. This is often not the case. If the spouse had children, the children will inherit 50% of the probate estate (and this can spiral on through generations if other individuals have predeceased the spouse). Having a valid will ensures that your probate assets will transfer to the proper people. But, and here’s the kicker, don’t try to cut corners or save money by doing it yourself. Oftentimes those wills have issues that could invalidate them. If you’re interested in learning more and getting a will (and having a sold estate plan), contact our office at 864-225-0001 to schedule an appointment. #mcintoshlawsc #estateplanning #estateplanningattorney #estateplanninglawyer #wills #lastwillandtestament #powersofattorney #trusts #trustattorney #probate #probateadministration #elderlaw #scattorney #southcarolinaattorney #andersonsc #andersonscattorney #andersonismytown

It is time for Fun Fact Friday (or in this case, not so fun). Did you know that in South Carolina, if you die without a will (also known as intestate), the intestate laws of the state determine who gets your probate assets? (Probate assets being defined as those assets that do not have a vehicle to transfer the property automatically at death such as a beneficiary designation or a joint bank account). For example, if someone dies without a will, many believe that their spouse will inherit everything automatically under the law. This is often not the case. If the spouse had children, the children will inherit 50% of the probate estate (and this can spiral on through generations if other individuals have predeceased the spouse). Having a valid will ensures that your probate assets will transfer to the proper people. But, and here’s the kicker, don’t try to cut corners or save money by doing it yourself. Oftentimes those wills have issues that could invalidate them. If you’re interested in learning more and getting a will (and having a sold estate plan), contact our office at 864-225-0001 to schedule an appointment. #mcintoshlawsc #estateplanning #estateplanningattorney #estateplanninglawyer #wills #lastwillandtestament #powersofattorney #trusts #trustattorney #probate #probateadministration #elderlaw #scattorney #southcarolinaattorney #andersonsc #andersonscattorney #andersonismytown

Let’s talk about wills!

Let's face it, the world can be a pretty uncertain place, especially when it comes to finances. Markets can fluctuate, lawsuits can arise, and taxes can be a real burden. As someone who cares deeply about the future, I've spent a lot of time thinking about how to protect and preserve our wealth for generations to come. That's where family trusts come into play. A family trust is essentially a legal agreement that allows you to transfer ownership of your assets to a trustee, who manages them for the benefit of designated beneficiaries. It's like creating a protective shield around your wealth, safeguarding it from potential threats. There are several advantages to setting up a family trust: • 𝐀𝐬𝐬𝐞𝐭 𝐏𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧: Think of it as a fortress around your assets, shielding them from creditors, lawsuits, and the potential pitfalls of probate proceedings. • 𝐄𝐬𝐭𝐚𝐭𝐞 𝐂𝐨𝐬𝐭 𝐑𝐞𝐝𝐮𝐜𝐭𝐢𝐨𝐧: By structuring your trust strategically, you can potentially reduce your estate transfer costs, ensuring that more of your hard-earned wealth goes to your loved ones. • 𝐒𝐮𝐜𝐜𝐞𝐬𝐬𝐢𝐨𝐧 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠: A family trust can help ensure a smooth transition of wealth and assets to your heirs, minimizing the risk of family disputes and ensuring that your legacy lives on. If you're interested in learning more about how a family trust can benefit you and your family, I encourage you to schedule a consultation with a qualified estate planning attorney. They can help you understand your specific needs and tailor a trust that aligns with your goals. 🌟 Thanks for stopping by 🤝 #FamilyTrusts #EstatePlanning #WealthPreservation #FinancialPlanning #SuccessionPlanning

People often assume that all their assets will automatically pass to their spouse upon their death, but that’s not always the case! 📜 In Illinois, if you pass away without a will (known as dying intestate), your assets are distributed according to state intestate laws, which may not align with your wishes. For example, if you’re married with children, your assets are split 50/50 between your spouse and your children, no matter how young the children are. This may result in an estate being set up for the children to receive the assets. Additionally, your assets may need to go through probate before your heirs will receive them and the estate administrator will have to pay a hefty surety bond that you can waive with an estate plan! 🏛️ Probate is the legal process of validating your will (if there is one) and distributing your estate, which can be time-consuming and costly. A clear estate plan can help avoid probate, ensure your assets are distributed according to your wishes, and provide peace of mind for your loved ones. Don't leave it up to chance—let's start your estate plan today! 💼 #EstatePlanning #chicagoestateplanning #chicagoattorney

Last week, we had a parent pass away who added their child to the home deed, thinking it would avoid a probate. Turns out that between the parent, the child, their real estate agent, and a title officer, NO ONE caught the mistake made on the deed. We see this thousands of times! Don't practice law without a license please, you just make our jobs easier when you do. Take the time to build a trust and safeguard your family's most important assets. https://lnkd.in/g_jb7wRF #homedeed #trust #realestate #probate #estateplan

Benefits of a Family Trust in Nevada for Multigenerational Wealth Transfers: 🔹 Asset Protection: Transferring asset ownership to a Trust protects assets from creditors and legal judgments and preserves them for future generations.  🔹 Tax Advantages: Can help minimize estate and gift taxes. 🔹 Control over Assets: You are the Trustee of your Trust and can buy or sell assets to build wealth. 🔹 Avoiding Probate: A Family Trust helps avoid probate and control over your assets if you become incapacitated. The probate process can take months and increase costs.  🔹 Peace of Mind: A Family Trust assures your wishes are fulfilled, is less vulnerable to litigation, and prevents the unintentional disinheriting of an heir.  Contact Stone Law Offices to start your estate planning journey today. https://buff.ly/48CWqT7 #FamilyTrust #WealthTransfer #EstatePlanning #NevadaLaw

Why should I consider using an LLC in my estate plan? Asset Protection Because the LLC is a separate entity, typically the LLC’s creditors can only go after the LLC’s money and property, not the member’s personal accounts or property. Also, if the proper formalities are in place, the member’s personal creditors may not be able to reach the LLC’s accounts and property to satisfy the member’s personal debts. Probate Avoidance Anything that is owned by the LLC, either retitled into the name of the LLC during your lifetime, bought by the LLC, or transferred by operation of law at your death, will not go through the public, costly, and time-consuming probate process. The probate process only transfers accounts and property that you owned at your death. By using an LLC, the LLC—not you—owns the accounts and property. Find out more in this week’s blog >> https://lnkd.in/gCqCGF7J #bydesignnotbydefault #hartmannlawllc #njestateplanningattorney #estateplan #wills #trusts #powerofattorney #healthcaredirective #guardians #assetprotection #legacy #familylegacy #njmom #njdad #protectyourfamily

Did you know in Maryland, you can name a beneficiary on your car’s title? This option lets your vehicle bypass probate, allowing the named person to transfer ownership directly at the MVA. It’s quick, easy, and avoids delays—especially helpful for your loved ones. Like a “transfer on death” for bank accounts, adding a beneficiary can simplify your estate planning. Just remember, an estate attorney can guide you to make the best choices for your full estate plan. Read Lee Carpenter's latest blog to learn more: https://lnkd.in/ew6VBTWf #EstatePlanning #EstatesAndTrusts #LegacyPlanning #MarylandLaw #OffitKurman