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September 2020 Archives

Is the estate you have to handle subject to estate taxes?

As the executor of an estate, you have a responsibility to the deceased party who named you as executor, the heirs and beneficiaries who will receive assets from the estate, and anyone with an outstanding debt owed by the deceased parties. In fact, failing to properly resolve someone's financial affairs is one of the riskiest mistakes an executor can make.

Do you know the immediate steps to take after a loved one dies?

When a loved one dies, it's important that you take the right steps to protect their estate. Immediately, you'll need to obtain a legal pronouncement of death. For example, if you find that your mother has passed in her sleep, you should call 911 and have paramedics come to the scene. If your loved one had a do-not-resuscitate order, you should keep that on hand to make sure that paramedics don't have to start emergency procedures.

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