One of the most important decisions a person makes while planning their estate is choosing someone to serve as executor or administrator. Unfortunately, people creating an estate plan may not make the most rational decisions, as their emotional attachment to someone...
Month: August 2020
What debts do executors need to pay off when someone dies?
For most people, estate planning largely consists of deciding whom they want to receive certain assets when they die. However, most households have complex financial circumstances that typically also include liabilities or debts, not just assets.Whether you are the...
Is it time to divorce your business partner?
You are at the end of your rope with your business partner. What once was a lucrative and agreeable partnership is now anything but. Could it be time to sever business ties? And if so, how to do it?Business partnerships are often compared to marriages, and with good...
Will I be responsible for my loved one’s debts?
If you have an aging family member who has a large amount of debt, you may worry about their financial situation and want to help them in any way that you can. You may also worry that you will need to pay back their debts if they pass away, especially if you are...
Solving inheritance disputes sensibly
The days, weeks and months after the passing of a loved one can be a very stressful time. It can mean that those grieving act out of emotion and are particularly sensitive to stress. This is why disputes regarding inheritance, especially between close family members,...
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