Estate Planning Tips
There is a popular misconception that the surviving spouse will automatically inherit everything. This is not true. If the decedent is also survived by children, the children will share in the assets of the estate as well. Minor children having an interest in the family home can create many problems. For example, the surviving spouse cannot refinance the mortgage on the home without considering the minor children’s interest. At this point, the Probate Court will become involved to protect the minor children’s interest. Estate Planning is essential to minimize needless court involvement.
Do you have an Estate Plan?
Provided by Attorney Althea DeBarr-Johnson