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One of the most demanding responsibilities of an estate’s personal representative is to inventory all debts and demands, inform all known creditors of the administration and pay those obligations using the estate’s available assets. However, the process becomes...
Parents and other close family members typically want the best for the next generation. They may work hard jobs with the intention of offering their children a better future. Oftentimes, older generations pave the way for the success of younger family members by...
Many estate planning documents take effect after someone dies. Additionally, many people add documents to their estate plans that have authority while someone is still alive. Powers of attorney take effect in scenarios where people have incapacitating medical issues....
Whether collecting art is one of your passions or more of a hobby where you pick up a piece or two whenever you travel, your art collection may be one of your more valuable assets. As you embark on estate planning, what is the best way to address this collection? The...
Accumulating wealth is often a journey of dedication, perseverance and smart decision-making. Once you've built your wealth, it's crucial to protect it. Without adequate protection measures, your assets can become the target of various risks such as lawsuits,...
Facing the complexities of probate can be daunting, especially when learning about the process’s potential setbacks. Understanding common pitfalls is crucial to ensure a smooth process. Here are five common probate errors to avoid: Failure to file will in a timely...
An advanced health care directive lets you spell out your health care wishes. For example, if you would like a particular doctor to treat you. If you will only accept a blood transfusion from family members. Or do not want to be kept alive artificially. If you have...
Planning your estate is an important part of one’s financial well-being, and it can help to ensure the fair and desired distribution of your assets after your passing. One of the ways that you can help to ensure that your assets are protected and managed according to...
We mentioned in a previous post that not many people have made an estate plan. Only 33% of adults in the country have put one in place. Let’s now look at why that is. Or, more specifically, what those interviewed for the survey that produced these figures gave as...
Just because you agreed to execute someone’s estate does not mean you ever expected to have to do it. Perhaps you thought you would die long before they did. Or maybe you were too afraid to say no for fear of disappointing them. Now that the person has died, you can...