Most people believe that receiving a large inheritance from a loved one would be life-changing. However, one study found that about a third of Americans who had received an inheritance eventually experienced a decrease or no change in their wealth. If you're expecting to receive an inheritance, here are 3 steps you can take to make it last.
Failing to file probate can lead to significant legal complications and risks, especially for heirs, creditors, executors and estate administrators. Additionally, it may give rise to litigation, which can be time-consuming and costly.
While there are many ways to structure a trust, one option worth considering is a staggered distribution plan. In this blog post, we'll take a closer look at what this means and why it might be the right choice for your family.
A joint trust can be structured so that when one spouse passes away, the trust is split into two sub-trusts: a survivor’s trust and a decedent’s trust.
The process of settling the estate of a loved one can be time consuming and emotionally draining. Finding your footing within the complex legal system can be a challenge, especially if you are unfamiliar with the process. In this blog post, we'll walk you through some key information to help guide you through the probate process with confidence.
When administering a trust, the trustee might encounter situations in which they need to convert trust assets into cash to provide liquidity to the trust. This could mean selling stocks, bonds, real estate, or other high-value assets to generate funds. Though this decision must be based on prudent investor rules or standards and be in the best interest of the beneficiaries, trustees generally don't need beneficiary approval to liquidate or sell trust property.
What happens if someone passes away before their debt is paid off? Or, what if someone loans a friend money and that friend dies before the loan is paid off? Can someone else collect on these debts? If your loved one dies and you believe they were owed money at the time of their death, keep the following in mind...
Losing a loved one, especially a spouse, is one of the most difficult things you may face in life. Surely you'll need to take time to grieve, and there are also crucial steps to be taken to wrap up your spouse's estate. If your spouse's will or trust had a disclaimer provision, there are some time-sensitive decisions that you'll need to make
If the duty of handling outstanding accounts falls on you, we're here to help. This article lists steps you can take to identify accounts and figure out what to do with them.
Trustee(s) are in charge of handling all aspects of your trust. So, it is important to select your trustee(s) carefully. By better understanding the responsibilities of a trustee, you'll be better equipped to select the right person for the job.
