When someone passes away, it is likely that they are still going to owe taxes. For instance, maybe they own their own home and so they have to pay property taxes once or twice every year. The taxes for the year that they pass away may still be due at that time....
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Estate Administration And Probate
Anxious heirs, sticky fingers and estate administration
You’ve been named the executor of someone’s estate, and you feel honored to be trusted with the position. You fully understood what the job entails – or, at least, you thought you did – right until a few of the heirs expressed their anxiety about a few personal...
Have you been named as an executor?
Has a loved one named you as the executor of their estate? This is not an easy role, and it can be overwhelming. From legal paperwork to taxes, there are many details to look after. It's a big responsibility, but there are steps you can take to ensure you correctly...
Locating missing heirs: A guide for executors
As the executor of someone’s estate, you have many responsibilities. Not the least among those tasks is your duty to notify the heirs of the deceased in writing about their loved one’s passing and the opening of probate. But, what if someone who has an interest in the...
2 obligations that can pass to you as the estate representative
When you agree to serve as the personal representative of a Virginia estate, you know that there will be a lot of work involved. You will be the one that has to go over someone's financial records, and it will also be your responsibility to attend probate court...
Why you shouldn’t wait to create a will
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...
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...