Some Expenses are Paid by Estate and Some by Beneficiary
If you’re set to inherit, you may be wondering what estate expenses are paid by the beneficiary. The answer can depend on what assets are passed on to you when a family member or loved one passes away.
What Is a ‘Residuary’ Estate?
In simple terms, a residuary estate is any part of your estate that hasn’t been distributed to your heirs through a last will and testament.
It Is Important to Update Your Estate Plan?
Will there be changes in your circumstances or your family that should lead to a review of your plan? Could some events cause you to need to revise or update the plan?
How Do You Stop a Sibling from Stealing an Inheritance?
The death of a parent can be emotionally trying, especially if the passing was unexpected. It can also be a test of your patience if there are complicated estate issues to sort out.
Is an Estate Plan Battle Looming?
If you own any property at all, you probably know about estate planning. You can decide what happens to your assets after you die, of course.
Factors to Consider when Picking Executor, Trustees and POAs
One of the biggest challenges that clients encounter during the process is deciding who to appoint as their trustees, powers of attorney, health care surrogates and executors.
What Is Upstream Planning?
Doing some ‘upstream’ planning will take the guesswork out of what’s coming your way.
Why Is It Important to have an Estate Plan?
The new Federal Estate tax limit (above which Federal estate taxes will be payable) is $11,200,000.00 per person. Yes, most of us will not hit that limit, but 19 of the 50 states, Illinois included, impose an estate tax of their own ranging from .25% to almost 20% of your estate.
Can Unequal Inheritances Be Fair?
The vital thing to acknowledge is that the emotions behind the reasons are not trivial but are essential and should not be dismissed or minimized.
Do You Want to Be an Executor?
Only you know your capacity and willingness to serve, or the degree of need expressed by the person asking you. However, it should help to know first that if you do decide to accept, there can be help out there and second there are standard procedures and practices you can follow.
