If someone asks you to act as a fiduciary over his or her estate, it is a great honor, but it is also a huge responsibility. In some ways, trustees and executors are similar. However, they have different roles to play in estate administration. If you are to serve as...
Most people simply do not put the time and energy required into choosing beneficiaries, whether it is for a retirement account or something else. But the choices you make about beneficiary designations now could impact the owner of an estate and their other...
Those named as executors of a will have a variety of duties after the author of the document passes away. Farm Bureau Financial Services reports that while the main duty is to carry out the final wishes of the deceased, the executor also has many other tasks, both...
The purpose of a will is to prevent disagreements about one’s property after death. However, things do not always go as planned. If someone disputes the will, it can lead to litigation. What are some common causes of estate litigation? A will is a legally binding...
Probate refers to the process of executing the estate and distributing the money of someone who has recently passed away. However, some people wish to avoid going to probate court for reasons such as convenience, cost, and time. Here are some of the ways that you can...
Many siblings will deal with rivalries between one another at some point in their childhood or even adulthood. While many of these spats are minor and most siblings will grow out of them, others may end up holding life-long grudges. The fires of these grudges may end...
Sibling rivalry is nothing new. Most families with siblings will experience it in various forms, whether friendly competition or genuine malicious disagreements. When financial matters end up in the mix, as is the case with probate, things have a chance to get out of...
Losing a close friend or family member is emotional and often overwhelming. While there are many difficult matters to tackle, settling the estate’s finances may be one of the most daunting. Many people believe that once a loved one passes away, any debts they owe...
With its cooler temperatures and wetter weather, winter can take a toll on the cleanliness of any house. Therefore, it should come as no surprise that many Americans use spring to spruce up their homes. In fact, according to the American Cleaning Institute, more than...
When you serve as the executor of the estate, one of your duties is to handle the finances of your loved one. However, working through another person's finances can often be a complicated process, and you may not always know where to start. According to Nerd Wallet,...