When someone passes away, the estate likely has both assets and debts. In some cases, these debts are very minor, such as a few hundred dollars on a credit card. In other cases, that debt could be significant, such as business loans or home mortgages for hundreds of...
Probate is the legal process that helps facilitate the transfer of assets following a death. This process can take a considerable amount of time. When problems arise, it can result in extended delays and increased frustrations. 1. Someone contests the will If a person...
You’ve known this day would come ever since you agreed to the job: A loved one has passed away, and you’re the executor of their estate. Right now, the burden you carry may feel especially heavy. Whether the deceased was a family member or an old friend, their...
Losing a loved one is never easy, but the pain can become worse if you find out they did not include you in their will. These situations are not always about money, but instead the emotional betrayal and confusion that you will feel. As a result, you may consider...
If a person, upon death, has a valid will, the estate will still likely have to go through probate. The reasons for this include making sure the executor of the will administers the estate faithfully and according to the wishes of the deceased. Estates go through...
If you want to help your heirs avoid probate, you are far from unique. Many Americans go into estate planning with the main goal of keeping as much as possible away from the probate courts. Given that probate can take a very long time and be very expensive, it makes...
If your recently deceased loved one lacked an estate plan, you may find yourself in the throes of probate. Some or all of the estate's assets must go through the Texas-established process of dividing property. This might involve decisions that inheriting parties or...
The responsibilities of an estate administrator can involve some financial liability, and you could face some expensive consequences if you mismanage the estate during the probate process. According to MarketWatch, administering the estate correctly includes...
After your death, your estate usually has to go through probate. However, some of your assets may be non-probate assets. During the probate process, the executor of your estate generally has to collect all your assets and distribute them to the beneficiaries. Some of...
Often when it comes to probate, the most important asset is the old family home. It may be the home you grew up in, and it is sometimes likely that the children may not want to see that home sold. However, often that is a likely result of probate if the beneficiaries...