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Top Five Estate Planning Mistakes

In spite of the vast amount of financial information that is currently available in the media and via the internet, many people either do not understand estate planning or underestimate its importance. Here's a look at the top five estate planning mistakes that need to be avoided.

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What Is Tort Reform and What Are Some of The Criticisms of It?

Tort reform is the name commonly given to a proposed solution to the rising healthcare costs in America. Some people believe that medical malpractice lawsuits are the main reason why the United States has such high healthcare costs.

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Costs Associated with Dying Without a Will

When someone dies without a will, it is known as dying intestate. In such cases, state law (of the state in which the person resides) governs how the person's estate is administered. In most states, the individual's assets are split -- with one third of the estate going to the spouse and all surviving children splitting the rest.

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Auto Recalls and the Dangers They Seek to Avoid

Automakers recall millions of vehicles every year. A recall seeks to reach out to consumers to return faulty products, mistakenly put in the marketplace, for repair. In 2014, more than 60 million vehicles were recalled, nearly doubling the previous record set in 2004.

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Common Types of Will Contests

The most basic estate planning tool is a will which establishes how an individual's property will be distributed and names beneficiaries to receive those assets. Unfortunately, there are circumstances when disputes arise among surviving family members that can lead to a will contest.

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The Revocable Living Trust

There are many benefits to a revocable living trust that are not available in a will. An individual can choose to have one or both, and an attorney can best clarify the advantages of each.

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Cycling Risks & Injuries

Each year, thousands of Americans take to the roads on bicycles. This mode of transportation is touted as being more cost-effective and more environmentally friendly than motor vehicles but when it comes to safety, cycling can come with a much greater risk.

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Disinheritance

Inheritance laws involve legal rights to property after a death and such laws differ from state-to-state. Heirs usually consist of close family members and exclude estranged relatives.

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Where Can You Bring a Personal Injury Lawsuit

Accidents happen and we do not have any control over their circumstances, including the location where they occur. You might be injured while passing through or spending significant time in a state other than the one you live in. If you are, you might become worried that it will be difficult to recover for your injuries or that you may be unable to recover at all.

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Preventing Will Contests

So, you have a will, but is it valid? A will can be contested for a multitude of reasons after it is presented to a probate court. It is in your best interest to have an attorney draft the will to prevent any ambiguity in the provisions of the document that others could dispute later.

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