Who Should Be Your Executor?
An executor is the person whom you name to handle the settlement of your estate after you die, taking your estate through probate, a court-supervised process that winds up your affairs in the state where you were living at the time of your death.
What’s Involved with Being a Trustee?
Being a trustee is difficult but adopting these four best practices employed by professional trustees will go a long way to ensure that you’ll effectively execute your duties and mitigate your liability.
Storing Passwords in Case of Death
Deborah Placet had no idea how to access her husband’s cryptocurrency and other digital accounts after his unexpected death at age 52.
Why Should I Name a Beneficiary?
Lewis established an irrevocable trust, in which he named ‘his son’s spouse’ as a beneficiary. At the time Clark, the son, was married to Vivian.
What Taxes Have to Be Paid When Someone Dies?
Tax obligations continue on despite the passing of a loved one, and in some cases, come about because of it. Tax deadlines pose a challenge for grieving families.
When Should a Trust Be Reviewed?
Many people are under the impression that since they have a trust, they don’t need to do anything else. That’s not true. The trust you created years ago may not be appropriate for you now.
Do Gifts Count Toward Estate Taxes?
A recipient of a gift does not pay income taxes on the gift. However, the gift-giver may pay gift taxes, unless one of two exemptions applies.
Why Is an Estate Plan Important?
While no one wants to think about his or her own death, planning for the inevitable is an important part of protecting your assets and those you love.
Who Pays Mortgage When I Pass Away?
One important aspect of estate planning is deciding what will happen to your home after you die. The answer might be fairly cut and dry if the home is fully paid for. If it’s not, though, you’ll need to consider the financial ramifications for your estate and for the person who inherits the home.
Before They’re Gone—Estate Planning Strategies
If you have not already been inundated with invitations to webinars, articles and newsletters regarding the estate planning you should consider doing before new legislation passes, you undoubtedly will receive these over the next few months.