by Michael Baker | Apr 28, 2020 | Beneficiary Designations, Estate Planning, Probate
Many people have heard that they should avoid probate at all costs but have misconceptions about what that means. It’s true that going to probate court is not a fulfilling experience for most, and that estate taxes can be inevitable, but it is all a part of...
by mbaker | Sep 16, 2019 | Estate Planning, Writing a Will
Without a will, state law will determine what happens to your property that goes through the probate courts. This process is referred to as “intestate succession.” Your property will NOT pass to the state; instead, the law directs it to pass to your next of kin as...
by mbaker | Sep 4, 2019 | Asset Protection, Estate Planning, Living Trust
Living trusts are a critical part of many people’s estate plans. Like wills, they are a method of transferring assets to your beneficiaries after your passing. However, they have many benefits that wills do not, which is why estate planners often urge clients to set...
by mbaker | Aug 28, 2019 | Asset Protection, Estate Planning
One question we commonly receive from clients is whether or not estate planning is really necessary in their situation if they do not have any children. This is a well-meaning question, but it shows a general misunderstanding of what exactly estate planning is and why...
by mbaker | Jul 24, 2019 | Asset Protection, Beneficiary Designations, Estate Planning
As you go through the process of planning your estate, you will need to designate beneficiaries for certain types of assets, including some insurance policies and accounts. For example, certain retirement plans (IRAs, 401(k)s, etc.), life insurance policies and...