I think the main advantage is that transferring those assets is (presumably) fairly easy, and most likely less expensive than probate or trust...

Do Letters Testamentary supercede a bank's "line of succession?"

Your authority through the Letters Testamentary is only over estate assets. Because the IRA has a beneficiary designation, it is not controlled by...

I did some accoumting work for a client who passed away about 4 months ago. He owed me approx. $8,000.

You need to determine initially whether there is or will be a probate opened for your client's estate. If he died without a will (intestate), then...

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Funding Business Interest to Living Trust

All the corporate "stuff" (bank accounts, records, inventory, etc.) are in the "Corporation Box." When you transfer your interest in the...

How can I take possesion of items/money left to me by my grandfather in his will?

The suggestion to start with the probate office in the county where you grandfather lived is a good one. This is your self-help/head start step. ...

How can children get power of attorney for mom who has demantia

If mom's dementia has already progressed to the point where she is fully incapacitated, she no longer has the legal capacity to grant authority to...

Do I have a legal right to an inheritance from my fathers estate?

Probably not. But bottom line you should consult with a probate attorney who can review the specifics of your situation in much more detail...

How do i make a living will?

I find that a lot of folks get the various terminology for the different pieces of an estate plan mixed up, so here are a few basic definitions of...

Hello, i live in oregon and have a client that is looking to obtain guardianship of her husband. how does she start the process.

I agree that the place to start is to consult with an attorney who handles guardianships & conservatorships. The attorney will be able to help...

Does Living Trust need tax ID at death?

You do need the tax-id number for the trust. An irrevocable trust is its own tax entity, and must file its own returns (if over the income...