One thing that significantly increases the odds of a dispute between family members after a parent passes away is if that parent did not have an estate plan. This can lead to numerous conflicts and disputes between surviving family members and beneficiaries. The...
Most adults understand that they need a will. However, a significant percentage of people never get around to drafting one. They tell themselves they need to wait until they reach certain milestones or simply put it off as something to handle in the indefinite future....
Estate plans are highly personalized and must be set up based solely on the creator’s wishes. When you’re creating your estate plan, you’ll have to think about how you’re going to get your assets to your loved ones. This is sometimes challenging. One option that you...
As you make your estate plan, if you have a beneficiary with special needs, it may be wise to set up a special needs trust. This is a way to give them an inheritance. Instead of giving it to them directly, as you would with a will, you put the money into a trust and...
If you’re serving as an executor, chances are you didn’t ask for the job. Someone you loved trusted you with the responsibility, and now you’re navigating legal deadlines, creditor claims and beneficiary expectations, all while still grieving. It’s unfamiliar...
The main priority for many people planning their estates is to ensure the right people inherit their most valuable property and prevent their loved ones from fighting over their assets. Most people prioritize their high-value resources, including financial accounts,...
Probate courts help oversee estate administration to ensure compliance with testamentary instruments and state statutes. They can determine if a will is valid when there are concerns about the document and intervene when personal representatives fail to uphold their...
Personal representatives overseeing estate administration are potentially liable if they make significant financial mistakes. They must ensure they properly manage resources, provide legally mandated notice to creditors and fulfill all valid financial obligations....
Your parents were there to protect and guide you when you were younger. However, as they age, it's natural for them to rely more heavily on others for help with their finances, health care and decision-making. Unfortunately, that increased dependence can make them...
Having an estate plan in place can provide you with peace of mind. You’ve worked hard, built a life and want to make sure everything is handled according to your wishes. The next step is discussing your estate plan with your family. It can be an uncomfortable...