Urban Planning Urban Planning Half of humanity now lives in cities. Every problem that we care about — economic development, environmental sustainability, social justice, and democratic governance, to name a few — play out in urban areas. Planning is an inter-disciplinary field dedicated to systematic and creative approaches to improving communities and places.
A common issue that pops up with family members after someone dies is "do we need to go through probate? To start the process, you should have a list of the assets in front of you and go through a "filter" process of the following questions.
Is there a named beneficiary for the assets? For example, life insurance and annuities typically have a beneficiary.
Go straight to the claims process and pass probate. If the answer is yes to some, but not all, we move to the next question. If the beneficiary is the "estate", then that doesn't count but doesn't necessarily mean you have to go through probate.
Is there a surviving joint owner?
Next question is whether there is a surviving joint owner on the remaining account s. While this can create some problemsif the rest of the accounts have a joint owner, you can skip probate.
If you still have assets that don't have a named beneficiary or a joint owner, then you move to the next question. Is there a funded revocable trust? If the decedent established a living revocable trust and properly titled the remaining assetsthen you can avoid probate and just have the trust administration to deal with those assets.
You can end the analysis here. If so, you can use an affidavit to transfer all of those assets. Is there real estate involved for the remaining assets? If there is real estate involved, whether it is a small home or if it is a sprawling farmland, probate is your new best friend.
However, if it has been more than 5 years since the decedent passed, you have another option that I don't feel like getting into right now.
If you get to the end of the process and it appears that you need to go through the probate process, the world does not end. There are some other issues Medicaid estate recovery and small estate vs regular estate that need to be determined.
Also, just because you don't have to go through probate doesn't mean that you may not have some other issues to deal with for the estate. Also, if you had a power of attorney, it is now worthless. Stop using it immediately.May 24, · By The LearnVest Staff.
Have children or elderly parents? What about savings or a home? If you answered yes to any of these, here's another question for you: Do you have an estate . Planning for Seniors: Long-Term Care and Medicaid As we age, a vast majority of us will require long-term care at some point in our lives.
Long-term care may be provided in residential facilities or in the comfort of one’s own home, and includes services required to assist elderly Americans with everyday tasks such as eating, dressing. Estate Planning When You’re Elderly or Ill. If you've put off estate planning, take these steps to protect your family.
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Now is the time to take concrete steps to establish an estate plan. It’s also a good idea to think about what could happen before your death, in case you become unable to handle. If you've put off estate planning, take these steps to protect your family. Wausau, WI Estate Planning Wausau, WI Estate Planning Attorney, Alan Hougum writes about strategic wealth planning strategies, such as wills and trusts, powers of attorney, estate trusts, Elder Law planning, Medicaid crisis planning, Medicaid eligibility and application, probate and estate administration, and more.
Sep 07, · Estate planning is more than just writing a will. Done right, organizing your assets can help avoid family fights and prevent a majority of your estate from going to the government later.