Misconceptions
Common
Misconceptions
A Will avoids probate.
the TRUTH A Will only directs the court once in probate, otherwise the state makes the direction itself.
Adding a child’s name to the asset is the best way to avoid probate.
the TRUTH There can be significant issues when you name a child as a co-owner.
Without a Will, the State gets your assets.
the TRUTH NRS 134 and ORC Sec. 2105.06 determine succession, it is very rare that the State receives your assets.
Debts of decedents pass away with them.
the TRUTH The debt of a decedent attaches to the decedent’s assets in most cases.
My heirs will be able to find my estate planning documents.
the TRUTH There is no central database for estate planning documents (though through our Elite Estate Insider Program there can be for you).
If you have a Trust, you are protected from creditors.
the TRUTH This can be true, but in many cases it is not.
You need to have a lot of money or a lot of assets to worry about estate planning.
the TRUTH Estate planning is not just about your assets, but also about your body.
You are too young to do estate planning.
the TRUTH Anyone can become incapacitated at any time.
A Trust is the only way to avoid probate.
the TRUTH There are many ways to avoid probate, a Trust is merely one option.
My heirs will be able to find my assets/debts.
the TRUTH There is no central database for assets/debts (though through our Elite Estate Insider Program there can be for you).
Having a Trust avoids probate.
the TRUTH Merely having a Trust isn’t good enough to avoid probate.
I can do my estate plan cheaper on [website].
the TRUTH Only an experienced trust and estate planning attorney can help ensure your estate planning documents are properly drafted to serve your best interests.
Estate Planning (Wills, Trusts, Powers of Attorney, etc.); Trust Administration; Probate; Business Law; and Real Estate Law
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