Sometimes, despite best intentions and best efforts, an estate plan leaves unintended problems for heirs, trustees and others to solve. For example, a trust may have become outdated because of changes in tax laws, the birth or death of family members, or special circumstances like an heir’s disability. When an…
If you pass away without naming beneficiaries in your will, it can create legal entanglements for your heirs. If you decide to purchase a life insurance policy or to put some money into a new deferred annuity contract or Individual Retirement Account (IRA), you need to complete the beneficiary form.…
Being named as an executor is a big responsibility. Before accepting this role, you should understand what the tasks are, and what you need to be careful about to protect yourself. It’s flattering. Someone you know thinks highly enough of you to name you as their executor. That means they…
It’s a hard thing to imagine: what would your life be like, if you were not able to take care of yourself? Not being able to manage your physical or financial needs, drive, leave your home without assistance, or do any of the things that you do now as a…
Once you understand what a will can do, the reason that everyone needs one becomes a lot clearer, especially if you have any minor children or any assets. A will is a legal document used to provide clear and binding instructions on how you want your assets to be distributed…
If a temporary administrator has failed to perform their duties properly, the court has the power to remove this person. Beneficiaries need to know that they have rights too. If a temporary administrator is not following the terms of the will, taking money that belongs to the estate or failing…
Leaving the workplace behind and heading into retirement can be as much an emotional transition, as it is financial. The prospect of fulfilling dreams long deferred, while recognizing a milestone of aging can take time to work through. At the same time, there are time-sensitive tasks that need doing. During…
Contesting a will is not for the faint of heart, but this is the process that lets a person legally challenge a will. When there’s a will, there’s a way to challenge it, known as a “will contest.” If someone dies and they had a will, their estate goes through…
While it’s possible for people to manage some parts of their loved one’s estate, very often the tasks feel overwhelming. When getting assets out of probate becomes too much of a challenge, it’s time for help. There are instances when an executor knows they need to hire an attorney who…
A single parent wonders if they need a will, or if just making an account a Payable on Death or POD account will be an adequate solution for transferring his assets when he dies. Even if you have only one child, if you have no will, things will be complicated…