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...
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...
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...
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...
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,...
The family home is a major asset for most Americans. Yet it’s becoming increasingly uncommon for aging Americans to own their home outright. Generations ago, a mortgage-free retirement was the norm. Now, it’s a rarity.As a result, estates frequently...
Serving as the administrator of someone else's estate is in some ways an honor, but it is also often very stressful. You will have to fulfill financial and legal obligations on behalf of your deceased loved one while also dealing with the demands and wishes of their...
Wills are arguably the most commonly known tool within an estate plan. However, there are additional options, such as trusts. In fact, they can benefit certain estate holders, depending upon the estate and intended outcomes. For those who choose to utilize a trust, it...
If your Uncle Bob named you as his personal representative in his will, you must oversee which of his assets go through probate and which do not, now that your uncle has passed away. Once you read the will, you will know the extent of your uncle’s estate and how...
When a will goes through the probate process and someone challenges its contents, they may do so because they believe the person who drafted the will was a victim of “undue influence.” Similarly, the concept of undue influence can arise in a number of...
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