Probate is the legal process of settling an estate after someone dies. However, it can be avoided in some cases, such as: • If the total value of assets in the estate falls below a minimum value as determined by state law or • If some or all of the assets will pass directly to the heirs using methods such as joint ownership, beneficiary designations, living trusts, or gifts. This blog post will highlight ways to avoid probate court. But first, let’s address Probate. For ease of writing, I will use the term “Executor” to describe the role responsible for settling the estate. The Executor has a fiduciary responsibility to the estate and its beneficiaries. The Executor can also be referred to as the “administrator,” “representative,” “fiduciary,” or sometimes “agent.” If a Trust is involved, it could be a trustee. If there is a Living Trust, there should also be a Will for anything that the Trust does not cover. However, anything going through the Will
This discussion was based on the premise of the book Grand Parenting by Dr. Josh Mulvihill. The premise is provocative: what is the biblical role of grandparents? Here is a review of the book and CDs. · This is a complex topic; everyone’s situation is different - different relationships with our children and their spouses; some families are physically near, others separated by time zones; many complications; no one answer. But we need to be intentional and have a strategy. · We are in danger of defaulting to the worldly model of grandparenting: a playmate? A companion? A convenient daycare? I had my turn at parenting. Good Luck! Santa Claus? An inconvenience whose visits inconvenience the family? · New social contract - some of our children believe they deserve independence, don’t want enmeshment, and don’t want parents butting into their parenting with their religion. · What does the Bible say is our role as grandparents? Not a lot, BUT DT 4