Tag Archives: Property

What To Do With Personal Items In Your Estate Plan

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Deciding what to do with your personal items such as your favorite piece jewelry that has been handed down from six generations is what many people think of when they make an estate plan. Although most people should be worried about the big assets such as the house or the retirement accounts, there is an inordinate amount spent focusing on small assets. Many times it is not the big assets such as the house or bank accounts that cause fights among family members when an estate is divided.

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A Simple Guide to a Transfer of Equity

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How do I work out the equity in my property? The remaining value of a property or business after taking into account any mortgage is defined as equity. Basically, equity is the actual value of your property to you, ie; if your property is worth £500,000 and you owe £325,000 on your mortgage you would have £175,000 equity in it.

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An Overview of Probate Procedures

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Once a person, especially a loved one dies, the days, weeks and months immediately afterwards can be highly emotional and complex for all involved. What happens to a person’s belongings, their property and their money after they die? The process of naming an executor, verifying a will and determining the decedent’s wishes is called probate. At this time, it is not uncommon for deep- seated issues to arise and the unexpected can happen too. When beneficiaries thought they got along, major disagreements can come out of the woodwork, causing a full- blown legal battle between the beneficiaries of the estate.

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Methods to Safeguard Inherited Property and Lessen Family Disputes

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Have you ever inherited property from a deceased relative? If so, chances are it was a bittersweet process. One on hand it’s great to have items that belonged to a loved one, but on the other it’s sad they are no longer around.

There’s little doubt receiving inherited assets can better your life, especially when it’s lump sum cash or valuable property. However, being a beneficiary can sometimes result in family disagreements that lead to inheritance wars.

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