When creating a last will and testament (commonly known as a will), one of your most important considerations is who to choose to serve as the executor (also called a personal representative) of your estate.
As the name implies, the role of the executor is to execute the instructions...
While television and movies provide great entertainment, they are not always factual. Even shows based on real events are not entirely accurate. Creators of television programs and movies will often alter details of a story or situation to provide an enjoyable experience. Because of these widespread embellishments, people often develop misconceptions about...
Estate planning attorneys and probate and trust administration attorneys play crucial but distinct roles in the legal processes involving legacy planning, asset distribution, and wealth preservation.
Estate planning attorneys focus on creating a plan to manage a person's money, property, and affairs upon their death or if they are...
You have several different options when it comes to creating the right estate plan. Some people believe that a revocable living trust is the best way to go, while others think that a last will and testament (commonly known as a will) is best under certain circumstances. Others may find that a...
A loved one’s passing is challenging on many different levels. In addition to the emotional difficulty of processing someone’s death, there are also the many tasks that must be dealt with, such as going through their various accounts and taking the necessary steps to cancel them or transfer ownership.
About two out of three Americans will die without a will. This is known as dying intestate.
While the reasons for not having a will vary, the end result is the same for everyone: they do not get to choose who receives their property when they die. Instead, their...
Important Probate Rules You Should Know
When a person dies, what happens next depends on whether the deceased person had any foundational estate planning documents such as a last will and testament (otherwise known as a will) or trust, who the living relatives are, and their relationship to the...
A will (which should be accompanied by other important documents such as healthcare and financial powers of attorney, as well as an advance healthcare directive) is a foundational estate planning document. However, according to Gallup, only 46 percent of US adults have a will.[1] This number has remained consistent in...
Probate is the legal process for recognizing the validity of a person’s will after their death and appointing the nominated decision maker. This person, also known as an executor or personal representative, administers the deceased person’s estate and ensures that their money and property are transferred to the beneficiaries specified in their...
Retirement Planning Update
Although we are still in the midst of winter, spring is on its way. It is important to remember upcoming April deadlines for retirement contributions and required minimum distributions (RMDs), but there have also been some recent developments that may impact your retirement planning.
