Some people believe creating a will is only for older individuals or people with a lot of wealth. However, this isn’t the case. In fact, it’s more important than ever before to have a will and estate plan in place than ever before. If you aren’t sure if creating a...
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Estate Administration And Probate
Make sure your trust administrator can handle scrutiny
Most of those called on to serve as trust administrators feel honored to accept such a role. However, some of them do not understand the full extent of their responsibilities. Further, many trust administrators or trustees are ill-prepared for the scrutiny they might...
What you need to know about the probate process
Probate is the process used by the court to ensure that an estate plan is carried out as specified by the deceased. This includes confirming the value of assets, paying the deceased’s final taxes and bills and distributing anything that remains to their loved ones. In...
What debts must you pay as part of estate administration?
As an executor, you have an obligation to follow through with the testator’s last wishes. You also need to settle all of their personal matters. Executors will have to close accounts in their name and notify creditors about the death. They will also have a...