Estate planning with cars

[Chevy454]

Depends, Bud...even a notarized will isn't binding until a judge says so *after your death*, and that means probate court...99% of the time, if the judge feels he's looking at the original, uncontested will, then it's smooth sailing...but it can get ugly, and then things get dicey (think Anna Nicole Smith), and all it takes is one p!ssed off heir to gum it all up. And deeds & titles are heaviliy dependant on how they're filed...if it's "Joe Smith and Nancy Smith", that more than likely means probate court if Joe or Nancy dies, unless you forge their name after the fact. Some states have gone away from "and" on their titles, but some have "or" listed, and still others have "at time of death"...confused yet?!

[Chevy454]

Stefano: the probate judge appoints the executor...granted, he can follow the wishes of the will, but he's not *bound* to the will...the executor is basically at the mercy of the judge. If all parties are in agreement, as is the judge, then everything can follow the protocol of the will...but like everything else in life, all it takes is one squeaky wheel...and in the end, we're all still at the mercy of a judge...trusts aren't nearly as expensive/exclusive as they used to be, and are HIGHLY recommended.

We tell our clients the easiest thing to divide is money...

[budnate]

your right Rob,

we covered all that stuff, the book is well written we assigned people for all scenarios that possible could happen, I think it's set to go right through the courts with no hassle, as all people were told in black and white what they received no more no less.

and again if someone wanted to fight it I suppose they could jam it all up, like you mentioned Anna Nicole

[Chevy454]

Remember, probate court means there *will* be costs invovled...not only court costs, but the administrator/executor and their attorney...whether it be flat rate or percentage. The order of payment, right off the top, is (1)court, (2)administrator/executor, (3)administrator/executor's attorney, (4)funeral expenses, (5)other creditors...and let's not forgot, the administrator/executor has to be bonded, which isn't free...even dieing isn't free any more.

But you should be commended for thinking ahead, Bud...I wish *all* of our clients were so inclinced...

[sYc]

Being in the funeral busines most of my life, I have pretty much seen it all.

Avoid probate court (either with a will or with out) if at all possible, unless you want a judge to decide what happens to your estate.

The best bet is a revocable living trust. Controled by you, easy to specify what happens to your stuff, easy to modify, and the best part, does not go through probate court (this saves time and $$$). These trusts used to be rather expensive to set up, but not now.