If you are planning your estate, it is important to understand the probate process as well as what assets are subject to probate. The attorneys at Tanko Law are well versed in the estate laws of Montana and can help you organize your estate in the most efficient, cost-effective way possible. Contact us today for assistance and …
Planning Your Estate: What Assets are Subject to Probate? Read More »
When you have a loved one who suffers a physical or mental disability or is unable to manage their own finances, you may be tempted to bequeath a certain amount of funds to help them financially. However, Supplemental Security Income (SSI) and Medicaid benefits could be impacted if you opt to leave a lump sum …
Oftentimes when starting a business, new entrepreneurs overlook one of the most important documents they will create which is their business plan. Business plans serve dual purposes; first, they provide a roadmap for a new business owner to monitor their progress against their goals, and they can help when you are seeking financial backing. To …
Top 11 Tips for Creating an Effective Business Plan Read More »
Estate Plan To many people, an estate plan is something they believe only the elderly and the rich need. You may believe that if you are young and have modest assets that there is no need for you to create an estate plan. However, creating an estate plan is something that is critical for all …
Why it is Best to Seek Legal Advice to Set up an Estate Plan Read More »
The decisions you make when setting up your estate plan have a powerful effect on the legacy you leave behind to your loved ones and heirs. A proper estate plan can help to ensure that your end-of-life financial needs are met, your final wishes seen to, your assets protected and your children and other heirs …
Do Revocable Trusts Protect Assets From Creditors? Read More »
Yes, a trust can potentially protect your assets during a divorce, particularly an irrevocable trust, as it generally removes the assets from your personal ownership. However, the protection offered by a trust can depends on various factors, including the type of trust, when it was established, and state laws. It’s no surprise that asset division …
Probate is the court-supervised process of collecting a decedent’s property and assets and distributing them to their beneficiaries. Unless there are family members fighting over the assets, there’s very little actual court time involved. Probate is mostly paperwork. If probate does move to court, however, the process is a little bit different. Find out how …
When someone dies with a last will and testament, it passes into the court-supervised process of probate, which is used to authenticate the will and distribute the assets to the beneficiaries. Depending on whether there is a valid will, the will itself, the outstanding debts and the size of the estate, probate can be a …
If a person passes away without a valid will, all the assets in their estate must be distributed to beneficiaries according to legal guidelines known as the rules of intestacy. In these cases, only married or civil partners, along with some other relatives, are able to inherit intestate assets. Intestacy can also occur if someone …
If you’re looking into estate planning, understanding the difference between revocable and irrevocable trusts is vital to your family’s future. If you select the option that doesn’t align with your goals, you could end up with considerable tax and legal penalties. In most cases, the revocable living trust will become irrevocable if the trustmaker dies, …
What is the Difference Between Revocable and Irrevocable Trusts? Read More »
