Preparing for Probate
We have all heard the term “probate.” However, we may not be exactly sure what this means. It may sound daunting, but don’t be intimidated by the phrase.
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We have all heard the term “probate.” However, we may not be exactly sure what this means. It may sound daunting, but don’t be intimidated by the phrase.
Does a Power of Attorney ever lapse? What happens if I change my mind and want to take the Power of Attorney back? Can the Power of Attorney refuse to return the authority?
There’s a lot of prep work to complete when you’re expecting a new baby. Expectant parents have a nursery to paint, strollers to buy, doctor’s appointments to attend, and nannies to hire.
Generally, when settling an estate, debts and expenses are paid first, charitable and spousal transfers follow, and applicable estate taxes are levied afterward.
Unfortunately, credit card debts do not disappear when you die. Your estate, which includes everything you own–your car, home, bank accounts, investments, to name a few–settles your debts using these assets.
Congratulations, you have finally signed your estate planning documents. Now, where do you keep them?
When a loved one dies leaving property, debts and a mortgage, and if he did not have a living trust, probate is required to sort everything out.
Acting as an executor can be a tremendous amount of responsibility and a time-consuming duty.
While it would seem obvious that you should tell the person you name as executor that he or she is your choice, that is not always the case.
I want to name a new executor. Who could I name as a backup?