Even with a will, in certain states (e.g. Tennessee), you will have to go through probate to legally do most things in accordance with the will. You will need to get the “Letters Testamentary” from the court in order to legally do those things.
It used to be that you didn’t have to go through probate, if your estate was under a certain amount. And certain things don’t count as being part of the estate.
Now, it’s all wills, regardless.
You will need to buckle up and find your lawyers, if you need to do any of those things where the “Letters Testamentary” are actually required.
In certain states (e.g., Utah), if the estate is less than $100k, you can claim "small holdings" and avoid probate.
This created a problem for me. In my dad's stuff, I found a business card from someone at a bank. If he had an account there, and if there was enough in it, then we needed to do probate for his estate, and not otherwise. But when I went to the bank, they wouldn't talk to me (even to tell me whether there was an account), even though his will named me executor, because we hadn't been through probate. But I couldn't tell if I needed to do probate without them giving me information.
They finally bent the rules enough to tell me that, yes, I needed to do probate.
Medical power of att'y, okay. Letting your family know your preferences on "when I'm gone", sure.
But for a Will - these days, what % of American adults are single, living alone, and have a negative net worth? Letting your family know that's the situation, and that they should stand back and let the gov't & banks to fight over your red ink, sound far kinder than leaving any of them stuck slogging through bureaucratic purgatory for nothing. [Add "IANAL..." disclaimer here.]
Even with a will, in certain states (e.g. Tennessee), you will have to go through probate to legally do most things in accordance with the will. You will need to get the “Letters Testamentary” from the court in order to legally do those things.
It used to be that you didn’t have to go through probate, if your estate was under a certain amount. And certain things don’t count as being part of the estate.
Now, it’s all wills, regardless.
You will need to buckle up and find your lawyers, if you need to do any of those things where the “Letters Testamentary” are actually required.
In certain states (e.g., Utah), if the estate is less than $100k, you can claim "small holdings" and avoid probate.
This created a problem for me. In my dad's stuff, I found a business card from someone at a bank. If he had an account there, and if there was enough in it, then we needed to do probate for his estate, and not otherwise. But when I went to the bank, they wouldn't talk to me (even to tell me whether there was an account), even though his will named me executor, because we hadn't been through probate. But I couldn't tell if I needed to do probate without them giving me information.
They finally bent the rules enough to tell me that, yes, I needed to do probate.
if you dont want fighting and raiding over your stuff after you die then give it all away before you die.
Medical power of att'y, okay. Letting your family know your preferences on "when I'm gone", sure.
But for a Will - these days, what % of American adults are single, living alone, and have a negative net worth? Letting your family know that's the situation, and that they should stand back and let the gov't & banks to fight over your red ink, sound far kinder than leaving any of them stuck slogging through bureaucratic purgatory for nothing. [Add "IANAL..." disclaimer here.]