Creating a trust to hold assets and property for family members could keep your estate wishes firmly on track. Since your trustee will oversee the distribution and management of your assets, you want someone trustworthy and capable in this role. The variety of...
Probate, the legal process of administering a dead person's estate, relies on executors to give away assets according to this dead individual's wishes. However, in some cases, these executors may engage in self-dealing. There are several common ways that executors...
Wills are not intended to be permanent documents. In fact, most people must update their wills many times over the years to ensure they continue to meet their needs. Although updating your estate plan might not be the most exciting task on your to-do list, doing so is...
If you become an estate executor, you will have the important task of safeguarding and eventually dispersing the estate assets to beneficiaries. One asset you are likely to oversee is the bank account of the decedent, provided you have the legal authority to access...
Your will should reflect your wishes for the distribution of your assets, even if it means you wish to exclude certain family members. Sometimes, excluded family members contest the will if they feel unfairly overlooked. Contested wills can tie up your assets and...
In managing the affairs of a dead loved one, it is important to navigate the intricate world of estate and trust administration. These terms are often used interchangeably. However, they are two distinct processes that play huge roles in settling an individual's...
Probate, the legal process of sorting out someone's estate after they die, is a time that requires careful attention. A key aspect of this process is the fiduciary duty held by those in charge of managing the deceased person's assets. There are many ways fiduciary...
The Caring.com 2023 Will Survey revealed that 2 out of 3 Americans do not have an estate plan. Having one in place is a big step towards helping to ensure the handling of your estate after your death goes as smoothly as possible. But there are additional things you...
When it comes to estate planning, it is not just about the good things you leave behind for your loved ones; it is also about what you leave behind in terms of financial responsibilities. Clearing out debt should be an integral part of your estate plan to ensure a...
Planning for the future is a wise endeavor, especially when it comes to managing your assets and ensuring the well-being of your loved ones. One valuable tool to consider incorporating into your estate plan is a trust. 1. Probate avoidance One significant advantage of...