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The distribution of personal property may be the most dramatic and gratifying of all the steps in estate administration. You give people who have recently lost someone they loved mementos to help them remember that person. Additionally, you might give out assets that...
Month: March 2021
3 ways to handle choosing a trustee for your estate trust
Using a trust as part of your estate planning process offers many benefits. It gives you more control over the long-term use of your assets and can even protect you during retirement. Trusts limit tax liability and can even allow your beneficiaries to avoid probate...
What are the 3 major goals for your powers of attorney?
There are times in life when you cannot speak up on your own behalf. When you are a child, you typically do not have the legal authority to make your own decisions. The same is true for older adults experiencing cognitive decline and those with incapacitating medical...
How long does an executor have to worry about debts during probate?
One of the most important obligations an executor has to an estate is the repayment of debts. In fact, if you make mistakes with how you handle property in an estate, those owed money by the deceased can hold you responsible as the executor in some circumstances....
Is it time to take your estate plan digital?
You may know the importance of having an estate plan in place, but have you considered how you’ll make sure that your loved ones are able to find all of your documents once you pass away? There have been cases where someone has died and left behind a will or plan, but...
How documentation protects you as the executor of an estate
There are dozens of steps necessary to properly manage an estate, and some of them will be repetitive. You will have to contact every creditor and utility company and provide them with documentation. You will have to inventory every physical and financial asset held...
How can you prove your parent doesn’t have the mental capacity to make decisions?
As a potential beneficiary and heir to your parent’s estate, you’ve always known that you’d have to play a role in taking care of it. One thing that you have always been concerned about was what would happen if your mom or dad could no longer make good, sound...
What can you do if your spouse has disinherited you in Florida?
What can you do if your spouse has disinherited you in Florida? Whether your spouse willfully disinherited you or did not prepare his or her will correctly, you may still have inheritance rights in the state of Florida. It is harder to disinherit a spouse than many...
Including your digital assets in an estate plan
A comprehensive estate plan can include several documents covering numerous elements such as physical assets, financial wishes and medical directives. These documents can ultimately solidify communication regarding your desires about who gets what but can also reduce...
What are the first steps to take during estate administration?
Estate administration can feel like an overwhelming task that might take a year or longer for you as an executor to complete. Instead of viewing the process as an interminable series of responsibilities and stressors, you might benefit from breaking it down into a...