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FAQ > The Basics (11 entries)

What are the basic things every person needs to know?
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  • The most important piece of stewardship anyone should consider is stewarding their soul. And that can be fully addressed through a saving relationship with Jesus Christ. If that is ...
  • A will allows you to state how you want your property (estate) distributed, name an Executor (also called a Personal Representative) to distribute your property, pay debts and taxes, handle other ...
  • Certain assets pass outside of the will. For example, assets owned jointly by two persons with rights of survivorship will pass directly to the surviving owner. Life insurance, IRAs and pension ...
  • Yes. The living trust provisions apply to assets placed in the trust but the will controls other assets that have not been placed in the trust, such as furniture, household furnishings, ...
  • First, never cross out a sentence or words or make notes on your will or trust. These handwritten notes are an invitation for estate litigation. To change the will, your attorney ...
  • In some states – yes, it is revoked. In others, a divorce may have the effect of revoking only the provisions that relate to your former spouse. You should check with ...
  • Probate is the court-supervised legal procedure that determines the validity of your will (if you have one). The probate judge supervises the gathering and inventory of your estate assets, payment of ...
  • It takes careful estate planning. Some of the ways to avoid probate include jointly owned assets with rights of survivorship or creating a living trust that is funded during your lifetime ...
  • If a disgruntled relative seeks to have the will declared invalid by filing a lawsuit, a will contest occurs. The disgruntled relative usually feels that he or she did not get ...
  • It can be as simple as stating in your will the amount or percentage value of your estate that you want to go to a favorite charity. A charity may also ...
  • About every two or three years, or sooner if any of the following occur: You move to another state Death of spouse or ...