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Probate Vs. Non-Probate Assets

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Probate Vs. Non-Probate Assets Written by: Aubráa D. Jernigan, Estate Administration Assistant

The Last Will and Testament is a familiar legal estate planning document that allows the creator to record what should happen to her assets at her passing. This document nominates an Executor(s) to carry out her wishes, names beneficiaries to inherit assets, and includes charitable giving and nominations for legal guardians of minors, if applicable. An individual that passes away with a valid Will in place has died testate. An individual that passes away without a valid Will in place has died intestate. In both scenarios, probate is...

Legacy

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Legacy Contributed by: Sherri J. Holder, Firm Manager

What comes to mind when you hear the word legacy? As an elder law firm, you’d probably expect us to say that legacy means an inheritance in the form of money or real property left through a Will. While the Book of Proverbs would agree with that definition, we think a legacy is much more intricate than that. Yet, the context of biblical stories is relevant to how we think and plan for our children and their children.

In the days of Moses, heritage was treasured and usually passed to sons. For...

Creating an Estate Plan When Your Family Has Debt

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Creating an Estate Plan When Your Family Has Debt Contributed by: Emily D. Banning, Estate Planning Coordinator

It’s closing day. Imagine you’re just leaving the settlement office with the keys to your dream home. As you enjoy the tunes on the drive home you hear an ad about the importance of creating an estate plan. The voice in your head chimes in to say, I don’t need to worry about that because these shiny new house keys came along with a thirty-year mortgage. If I have debt, surely I don’t have an estate to plan for.

For Delaware residents, the...

Planning Considerations for the Business Owner

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Planning Considerations for the Business Owner

My grandmother is going to be 92 this year. I’ve always known her to be a very private person, not wanting anyone, to include her children or grandchildren, to know of her affairs, including the status of her health, the assets she owns or her coveted spaghetti sauce recipe. This has been a sticking point for many years because our family is increasingly concerned with being prepared to help her as she ages or being prepared to settle matters at her passing.

I have come to learn that my grandmother is not an anomaly....

Social Security Announces Redesigned Statement -- Now Available with a my Social Security Account

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Social Security Announces Redesigned Statement – Now Available with a my Social Security Account

Kilolo Kijakazi, Acting Commissioner of Social Security, today introduced a new look and feel to the Social Security Statement, available online through the my Social Security portal at www.socialsecurity.gov/myaccount and by mail. The Statement is one of the most effective tools people can use to learn about their earnings and future Social Security benefits. This fresh look will allow millions of people to see their earnings information and estimates of future benefits quickly and securely.

“One of my top priorities is to provide information to people...