Factors related to probate Law

Let us kick off our discussion by understanding what probate law is all about. Probate law is the law that outlines the administration of a deceased person property distribution under a will in cases disputes arise. There have been many cases where families disagree over the distribution of property as written in a will by the deceased person.

Probate disputes keep on arising despite people drafting legal wills and documents to avoid unnecessary disputes. Probate law aims to litigating various issues ranging from greed, revenge and resentment among others. There are reasons why probate disputes occur.

What determines if a case qualifies to be heard in a probate court?

This question has been constantly asked by many people planning to file probate cases. As we all know, not all cases will go through probate. There are two factors that influence this decision, namely:

  • Monetary value of the disputed property
  • The type of assets in the estate

There are some assets named under probate law that don’t qualify to be included in probate court proceedings. The range from joint tenancy owned assets, life insurance where beneficiaries have been named, retirement accounts with named beneficiaries and community property among others.

In addition to the above statement, the value of a property can determine if the case will go into the probate court proceedings or not. Small estates don’t quality to be heard in probate courts. Instead; simpler dispute resolution mechanisms are provided.

Common factors that result in probate disputes

After careful research, here are some common factors that facilitate probate disputes:

Poor planning

Most people don’t understand that poor planning is the leading cause of probate court proceedings. Poor planning results in many things ranging from confusion to disagreements among others. Unresolved disputes are what turn into probate cases. This mistake can be resolved by consulting estate planners or lawyers to guide you through the will drafting process and help rectify any faulty plan.

Fiduciary disagreements

Fiduciary disagreements are very common. People must be careful when choosing an executor of an estate. They not only need to be trustworthy, but also be able to communicate clearly in a manner details in the will are clearly understood. In addition, the executor must be able to act independently, without being manipulated. There is a high possibility of disputes arising if fail to select a Fiduciary with the above care characteristics.

Multiple marriages

There are high chances of Surviving parties from multiple marriages disputing over a deceased estate, especially if there is no postnuptial and prenuptial agreement. Such cases are complicated and difficult to solve. In the long run most of the above disputes end up in probate courts, if they meet the set requirements set aside in probate law.

Nonstandard estate plan

It is common to come across these types of plans. These plans can either exclude a certain family member; give them unequal shares or discriminating them among others. Nonstandard estate plan can also include plans that are extremely detailed. Always consult estate planners or a lawyer for guidance.

Probate law has helped many people get their rightful inheritance shares and protect the helpless.

 

Assets of Singaporeans are safe with us

Do you have vast estates or own some property in Singapore? Whether you live in Singapore or elsewhere if you have property, estates in Singapore which you want to bequeath to someone, we will be able to help you. Our forte is local estate planning.

We customize our solutions in a manner so that you can give your loved ones share of your estate while you are alive. You can then live peacefully without worrying about what will happen to your estate. If your net worth is above a million dollars, then we will partner with you to serve your estate planning needs.

We have a very select clientele. We take you on only if you meet any of the following listed criteria.

  • You are a Singaporean with assets in Singapore or with business in Singapore or overseas.
  • You are a foreigner with assets in Singapore.
  • You are a business person who seeks succession planning in Singapore
  • You are parents or have dependents who are minors, below the age of twenty one or are weak in money management.

We have a multi-pronged approach to estate planning. Our services are focused around the following objectives.

  • We determine your wishes and intentions
  • We consider your financial circumstances
  • We use estate planning tools to legalize your intentions
  • We ensure that there is a total and proper execution of your wishes

In order to meet these objectives, we have categorized our services as follows:

  • Will writing – We ensure that you take care of your estate by bequeathing your loved ones in a manner that you wish. Without a will, the law will govern your estate and decide on the fate of any minors that you leave behind. Our will writing lawyers Singapore help you nominate executors, guardians if needed and take care of all legal clauses of the will.
  • Trust –We help you in creating a legal trust with proper documents. A trust appoints a trustee who will look after the beneficiaries of the trust as per your wishes. There are different kinds of trusts in Singapore and we help you decide which is best for you.
  • Professional Executorship & Trust Administration –We help you appoint a trustee for you estate at certain fees. Your trust administration and guarantee will take place via trust and its executors rather than be dependent on one person. We charge annual fees for trust administration. However, we provide you with the best possible services for the same and our partners include renowned firms such as PKWA, ARLC, Trident Law, among others.
  • Lasting power of attorney–As you age you may find it tough to make decisions and may want to appoint someone to take care of your estates and make decisions on your behalf. We help you to complete the legalities of appointing lasting power of attorney who will do this on your behalf.
  • Fund creation – We help you in fund creation activities via insurance planning for your assets and estates.
  • Business Succession Planning–We help generate cash flow for your business. As business succession activities we ensure that the business doesn’t die due to lack of funds. We help you tie up your business activities with fund creation aspects.
  • Will custody–We keep your will secure with us so that it gets executed eventually.

 

 

Probate Law

Losing a loved one is the hardest thing anyone has to face in their life. Not only do people have to deal with a death of someone close to them… but there is always the need to deal with concluding that person’s last wish and dying will. Things are complicated when there are no such things and the estate is contested.

On the off chance that you read the ordinary guidance for agents, the initial step is ordinarily “enlist a legal counselor.” And you may well choose, as you twist up a home, that you need legitimate exhortation from an ordeal legal advisor who knows about both state law and how the nearby probate court functions. Not all agents, in any case, need to turn a probate court over to a legal counselor or even contract an attorney for restricted exhortation. On the off chance that the domain that you’re taking care of doesn’t contain uncommon resources and isn’t too huge, you might have the capacity to get by fine and dandy without a legal counselor’s assistance.

In the event that you don’t have the foggiest idea about the appropriate responses, ask a legal advisor—before you consent to procure the legal advisor to deal with things for you. The more inquiries you reply to the more probable it is that you can wrap up the transaction without an expert next to you.

Can the perished individual’s benefits be exchanged outside of probate? The response to this question relies on upon how much (assuming any) planning the expired individual did before death. In a perfect world, all benefits can be exchanged to their new proprietors without probate court. Some basic cases of benefits that don’t have to experience probate are held in joint occupancy, survivorship group property, or tenure by the total. Resources held in a living trust can sidestep probate, as well.

Probate evasion.

Does the home fit the bill for your state’s basic “little bequest” techniques? It’s ideal if no probate at all is required, yet in the event that that isn’t a choice, make sense of whether the domain can utilize “special legal systems. In many places, these incorporate streamlined “synopsis probate” and a completely out-of-court process that requires showing a straightforward sworn explanation (oath) to the recieving individual or foundation. Each state has its own particular standards on which bequests can utilize the less complex strategies. In any case, in many places, even domains that are genuinely substantial—not including nonprobate resources—can utilize the more straightforward procedures.

The Small Estate.

Are relatives getting along? Will challenges are uncommon, however in the event that a relative is making commotions about suing over the home, converse with a legal advisor quickly. Probate claims shred families and can empty a great deal of cash out of the home all the while. A legal advisor might have the capacity to help you stay away from a court fight.