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In Terrorem is a term derived from Latin which translates to 鈥渋n fear.鈥� An In Terrorem provision in a decedent鈥檚 Last Will and Testament 鈥渢hreatens鈥� that if a beneficiary challenges the Will then the challenging beneficiary will be disinherited (or given a specified dollar amount) instead of inheriting the full gift provided for in the Will.

What exactly is 鈥減robate鈥� and why would you want to avoid it? Probate is the legal process whereby a last will & testament is determined by the Court to be authentic and valid.

A designated beneficiary on a Transfer on Death (TOD) account has only an expectancy interest in the account and cannot use the funds in the account until the death of the account holder. With no present interest the designated beneficiary cannot withdraw funds for his or her personal use during the account holder鈥檚 lifetime.

I recently signed a Health Care Proxy naming my daughter to make healthcare decisions for me. Is she able to access my medical records and speak to Medicare and my supplemental health insurance company?

The Executor of an Estate is the individual named by the Decedent in his or her Last Will and Testament to act on behalf of the Estate. The Executor is entrusted with the responsibility of making sure the Decedent鈥檚 last wishes are carried out with regard to the disposition of the Decedent鈥檚 property, assets and possessions.

It is not unusual for a client to contact me and ask to review their estate plan. This may be precipitated by a recent diagnosis or simply by the passage of time. I have a checklist that I use when reviewing an estate plan if they have a taxable estate.

Using an online service to prepare your will can result in costly mistakes and may altogether fail to properly transfer your assets. Even if you have a relatively simple estate and plan to leave all your assets to your spouse or children, an estate planning attorney provide for family situations that an online will cannot.

What is probate? When a person dies and leaves a Will, and there are assets in the Decedent鈥檚 individual name that do not pass by operation of law, there is a legal process that takes place that is called probate.

Do I need a health care proxy? Could my husband make medical decisions for me if I couldn鈥檛 make them for myself?

Consider this scenario: An individual executes a will in 1995. The Will leaves all of his personal property (household furnishings and other personal effects), to his friend who is also the named Executor. The rest of his estate he leaves to his two sisters. When he died in 2012, his two sisters had predeceased him.