As people age, they may begin thinking about what can happen to their assets after passing on, igniting their interest in different estate planning tools. Having an estate plan can have diverse benefits. However, others may take advantage of this curiosity and exploit...
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Estate Administration
Building an inclusive legacy: Estate planning and open adoption
Estate planning takes on heightened importance in the context of open adoption. In this set-up, ongoing communication between adoptive and birth parents shapes a distinctive family dynamic. Inheritance intentions and financial clarity Before delving into estate...
Should an executor hire an attorney?
A testator, or someone who creates a will, appoints a personal representative or executor to carry out their last wishes and administer their estate. Estate administration involves probate administration, which is essentially the legal process of validating a will and...
How can undue influence harm a person’s estate plan?
Estate planning is a process aimed at securing one's assets and ensuring the smooth transition of wealth to beneficiaries. However, lurking beneath the surface of this seemingly straightforward task is the potential for undue influence. Undue influence happens when an...
Getting started as the executor of an estate
Serving as executor of someone’s estate is a position of honor and respect. In most cases, people choose someone they deeply trust for this role. As that executor, you may wonder where you should start. It may seem confusing to those new to the role, but it is easier...
What to do when your estate attorney moves or passes away
When you hire an estate attorney, you expect them to be reliable enough to carry out your wishes exactly as they are written in your will. But what happens if they relocate, die, or retire without your knowledge? Your will should still be valid, but there are actions...
Choosing an executor: duties and qualities that fit
When someone dear to us passes away, it can be difficult and emotional for the family. Along with grieving the loss, many practical matters need to be addressed, such as distributing the deceased's estate and assets according to their wishes. This is where an executor...
3 FAQs about probate court
The death of a loved one comes with an array of emotions and difficult situations. If your loved one fell into the high percentage group of people without a will, you also face dealing with probate court. During this difficult time, many people feel overwhelmed with...
Tax implications of transferring your deed to your kid
Transferring property to your kids through a deed can have significant tax implications for your estate and your children. For example, gift taxes may apply if the transferred property's value exceeds a certain threshold, and your children may be subject to capital...
Should I name my spouse as the executor of my estate?
There is no straightforward answer, as it depends on the situation and your relationship with your spouse. But you may want to ask yourself, is your spouse up to the challenge? An executor of an estate is responsible for your entire estate when you are gone. They...