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October 18, 2013

What is a Life Estate?

There are numerous ways that a person can hold ownership in property. One way is the life estate. If a person holds property in a life estate, he or she retains the right to occupy, possess, and enjoy the property for his or her life. However, when he or she passes on, their interest in the property automatically ends. Due

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October 17, 2013

Wills vs. Trusts

Wills A will is an instrument that determines the disposition of a decedent’s property after death. A person who executes a will is a testator. Valid wills override the intestacy statutes. A will is ambulatory, or revocable, up to the death of the testator, at which point it becomes irrevocable. A will can be revoked, in whole or in part,

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