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.
About the Author
Daniel H. Ruttenberg
Daniel H. Ruttenberg, JD, CPA, LLM is a principal with the firm. Mr. Ruttenberg received his Bachelor of Science degree with a double major in Accounting and Finance from the University of Maryland. He earned his Juris Doctor with Honors from George Mason University School of Law and his Master of Laws in Taxation with Distinction from Georgetown University Law Center. Mr. Ruttenberg also served as the Director of the Fairfax Bar Association (FBA) for seven years. During this period, he was also elected president – the youngest in FBA history and served as a member of the Board of Directors for the Fairfax Law Foundation.
