In 1969, an effort was made to standardize and simplify the probate process among the 50 states through a set of model probate laws called the Uniform Probate Code (UPC). However, since its first draft, only a handful of states have adopted the UPC in its entirety. While probate laws don’t vary wildly among states […]
In recent years, there’s been a trend to use trusts rather than wills to transfer assets to family members. A revocable trust does offer some advantages over a will. For instance, trusts allow for more privacy than wills, and they make it possible to avoid probate in most cases. However, it is a misconception to […]
According to the Judiciary Data and Analysis Office (JDAO) of the Administrative Office of the U.S. Courts, about 12.8 million consumer bankruptcy petitions were filed in the federal courts between 2005 and 2017. While few people want to file bankruptcy, for millions of Americans this last resort action provides an opportunity to clear their financial […]
