You are currently viewing Hergott : Right of survivorship: A guide for families


##
Representation image: This image is an artistic interpretation related to the article theme.

Hergott : Right of survivorship: A guide for families ##

Lawyer Paul Hergott’s weekly column explains how spouses often find their wills are ineffective after death. He argues that many people assume their wills are effective immediately upon creation, but this is not always the case.

Changing a property title to remove the deceased’s name is a straightforward administrative process. It can be completed in a few hours. **Detailed Text:**

The process of changing a property title to remove the deceased’s name is remarkably straightforward and efficient. This administrative task, often overlooked, is a crucial step in ensuring the smooth transfer of property ownership after a death.

Joint ownership of financial assets, such as savings, checking, and investment accounts, can be a powerful estate planning tool.

This passage argues that it is important to make wills while both parties are still capable of doing so. The passage emphasizes that wills are not useless even if one party passes away first. ## Detailed Text

The importance of making wills while both parties are still capable of doing so cannot be overstated. This seemingly simple act holds significant implications for the future, particularly in the event of one party’s passing. While it might seem counterintuitive to create a will when one party is still alive, the passage argues that this is crucial for several reasons.

This is because, in a blended family, the children of both parents are often considered as a single unit, and their interests and needs are often intertwined. This creates a complex web of relationships that can be difficult to navigate, especially when it comes to estate planning. For example, imagine a scenario where one parent has a significant amount of property, and the other parent has a smaller amount. If the parent with the larger amount of property dies without a will, their estate will be distributed according to state law, which may not be in the best interests of the blended family.

This is a lawyer’s website. The lawyer, Paul, specializes in end-of-life legal matters. He offers his services to individuals and families facing difficult decisions regarding their loved ones’ care and end-of-life wishes. He emphasizes the importance of legal planning and the role of a lawyer in navigating complex legal issues surrounding death and dying.

Leave a Reply