One of the practice areas here at the Finity Law Firm is estate planning and it’s events like the Maitland plane crash on June 12th, 2019 that raise concerns for our lawyers. During such a tragic event, we cannot help but think about the families, friends, and the communities that will be affected by such a disaster.
After the first responders leave the scene, the ongoing legal issues involved with this matter are just starting to begin.
Common questions and issues include:
- Did they have a will or a trust?
- Was life insurance set up and creditor protected?
- If the plane was defective, and the families recover, or his estate, will this payout be protected properly by flowing into a trust and avoid potential creditors that the beneficiaries of his estate can have?
- If the pilot is personally sued, was he or she properly insured to ensure the estate would not have to defend a lawsuit out-of-pocket?
- If they did not have a trust or a will, how were the properties, bank accounts, investment accounts titled? Will assets be forced to pass through probate? If they have to go through probate, how backed up is their local court system? (Learn more about probate here)
- Will the beneficiaries be able to wait months sometimes years if there are delays in the probate process?
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