Families need to address numerous financial and practical challenges when one of their own dies. Those who lose a loved one who crafted an estate plan before they passed will have some degree of guidance regarding what they should do with their assets. Even if someone...
When an elderly family member passes away, you may find that you are listed as a beneficiary in their will. This means that you’re going to inherit some of the assets that they have left behind. Beneficiaries are often heirs, but they don’t have to be. You can be a...
If your loved one has passed away and you are the executor, the first thing to remember is that you have to make sure you pay out creditors and cover debts with the assets belonging to the estate before you dole out those assets to the beneficiaries. While you may...
The loss of a parent means that children go through a wide range of emotions. They will likely experience denial and disbelief, anger, blame, depression and guilt. These unsettling emotions can manifest themselves in different ways, meaning that in many circumstances,...
One of the duties that a person has when they're setting up their estate plan is naming a person to handle the estate after their death. The administrator of the estate has various things to do, including making sure that the bills for the estate are paid and that the...
The days after a loved one's death are traumatic and can bring out a lot of emotions. Some aren't pleasant, but you'll still have to contend with them. One thing that you need to do is to think logically about the decisions you have to make in the upcoming days and...
Most people die with some form of estate plan in place. They may have written a simple will, or they may have extensive estate plans in place that include several trusts. However, when a person dies without any form of estate plan in place, it means that they were...
If you are a surviving spouse and you have stepchildren from that marriage, it is likely that your late spouse wanted your will to include them. During your spouse's lifetime, you may have even discussed setting up a trust in which all of your children and...
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...
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...
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