Probate is the legal process of transferring assets from a deceased person (known as the decedent) to their beneficiaries or heirs after death. It involves identifying all assets in the estate, collecting information on creditors and claims, paying debts, and distributing what's left. This process is often lengthy, expensive, and stressful for loved ones. Beneficiaries vs. Heirs: Key Differences Understanding who inherits your assets is crucial for effective planning: Benefic

A caller recently asked us this exact question: “My brother is sick. Mom just gave each of us kids $113,000. He’s not married but has a girlfriend he’s been with for over 12 years. She has no money. If he passes, does she get the money in his bank account?” Here is the exact answer based only on what we explained in that call: While Your Brother Is Still Alive If the bank account is in his name only , the girlfriend has no access  at all. She can only get money if he personal

You’ve worked your entire life for your home. You don’t want your kids fighting in probate court. So you think: “I’ll just put the deed in my favorite child’s name now and write in my will that when they sell it, they have to split the proceeds with their siblings.” Stop right there. That plan will almost certainly fail – and your family could lose everything you intended for them. Here’s the harsh truth most people discover too late: A deed beats a will – every single time.