The thought of estate planning is difficult because it forces you to think about a future that does not include you. However tough it may be, it is important to do your research and make the right choices for your family. Do I need a will? If you pass away without a...
When a loved one dies – particularly if it’s unexpected – surviving family members have a multitude of things to deal with. They’re usually doing this amid some level of grief and maybe shock and disbelief. Often, little if any thought is given to making sure the...
Maybe you told your mother repeatedly that you didn’t want her house when she died, and that she should leave it to a charitable organization. Perhaps you told your father you didn’t want his vintage Rolls-Royce. They didn’t listen. Now they’re gone and you’ve...
If you’re the executor of the estate of someone who passed away last year, one of your responsibilities will be filing their final income tax returns. Note that this is not the same as an estate’s tax returns. The deceased’s tax return is due on Tax Day, just like...
Mineral rights are a problematic topic when it comes to both estate planning and estate administration. The United States is one of the few countries that will legally separate the surface property from the mineral assets underneath. Still, most people who inherit...
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...