People generally assume the role of estate executor via one of two paths. In some cases, an individual agrees ahead of time to administer someone else's estate and has their name included in estate planning paperwork. Other times, the probate courts may appoint a...
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Month: July 2023
Can a trustee use the trust’s money?
Trustees have a fiduciary duty to manage a trust for its intended beneficiaries or purpose. Generally, this responsibility means they cannot use the trust’s assets for personal gain, such as buying private properties. Failure to uphold this duty may result in various...
How can charitable giving affect how your trusts are taxed?
Charitable giving refers to donating money, assets or property to nonprofit organizations or charities to support their philanthropic causes. These donations serve crucial social, environmental and humanitarian purposes. But that isn’t all; they can also allow you to...
Where can you have your ashes scattered in Virginia?
One of the many advantages of estate planning is that you can designate what you want to happen to your body after you’re gone. While that’s not pleasant to think about, it’s easier to contemplate when you’re still relatively young and healthy than in your final days....
How to include your safe deposit box in your estate plan
Sometimes the things that cause the most frustration after s family member dies are the things their loved one forgot about or didn’t think were important in their estate planning. One of these is safe deposit boxes. If you’re preparing to begin your estate planning,...
What’s charitable giving in estate planning?
Estate planning is a crucial aspect of managing your assets and wealth. It involves deciding how your assets will be distributed after your passing. While the primary focus of estate planning is often on providing for loved ones, it’s also an opportunity to engage in...
Is there any financial risk to being an executor?
Being asked to be the executor of someone’s estate is both an incredible honor and a big responsibility. Unfortunately, most people don’t realize that can also be certain personal financial risks involved in accepting this position. As the executor of an estate,...