ABC 7 reports on how people are losing their property and more in probate court. They turned to SmolenPlevy’s Principal Dan Ruttenberg for tips on how to protect yourself. He advises it’s important to know when it’s time to consult an estate planning attorney to avoid trouble in probate court later.
Here are five signs it may be time to review your estate plan:
- If you are older and you do not have a revocable living trust.
- If you have a revocable living trust, but your assets are not in it.
- If you have assets titled jointly with a sibling or children because you are trying to avoid probate or give them access to your assets in the event you become disabled.
- If you have named young children as the beneficiaries on your retirement account or life insurance.
- If you have large life insurance policies and they are owned directly by you as opposed to an irrevocable trust.
Watch Ruttenberg on ABC 7 above or click here.