The estate administration process involves managing a deceased person’s assets and distributing them to their beneficiaries. This process typically includes identifying and inventorying the decedent’s assets, paying debts and taxes, and distributing any remaining assets to the beneficiaries named in… Read more »
Tag: estate planning
Do-it-Yourself Estate Planning: The Perils
Do-it-yourself estate planning may seem like a cost-saving option. However, it can be costly in the end, both financially and in terms of family well-being. Estate planning involves important decisions about how your assets will be distributed after you die… Read more »
Guardianships: Protecting Your Finances and Right to Vote
All US citizens have the fundamental right to vote, but if you become a ward through a guardianship process, you may lose that right. You could also lose control of your finances to someone you don’t fully trust. By nominating… Read more »
Does the Probate Attorney Represent the Executor or Estate Heirs?
It is essential at the beginning of the probate process to know the role of the lawyer, regardless of whether you are the Executor or an heir. One of the biggest sources of conflict in probating the estate is understanding… Read more »
Probate: What You Need to Know
The right estate planning can minimize or eliminate probate, but sometimes it’s necessary, despite the stigma associated with it. In reality, most heirs will have to navigate the probate process to some degree after losing a loved one. Understanding what… Read more »
The Difference Between Revocable and Irrevocable Trusts
For estate planning purposes, revocable and irrevocable trusts are the most common types. While there is some similarity, these two major categories of trusts have different purposes in your estate plan. Both can substitute for a last will and testament… Read more »
What a Divorce Means for Estate Planning
Divorce can be a difficult process. It is a stressful and emotional experience. There are many factors to consider that may also change over time. For younger couples, children are likely a top concern. For older couples, a long-term home,… Read more »
A Tax on Generation-Skipping Transfers
In the US, generation-skipping transfer (GST) is the US government’s tax on transfers of property that skip a generation. Its primary design is to prevent wealthier individuals from avoiding estate and gift taxes by transferring large amounts of assets to… Read more »
An Overview of the Workings of a Will
According to Care.com’s estate planning survey, 57% of U.S. adults don’t have a Will. The survey found that participants were more likely or less likely to have a Will depending on issues such as age, race, and education. For example,… Read more »
Avoid These Inheritance Mistakes
Experiencing the loss of a loved one can be emotionally draining. Receiving an inheritance and dealing with the death of a loved one brings mixed emotions. The loss of a loved one is sad but the influx of funds can… Read more »