An executor, also known as a trustee or personal administrator, ensures that the decedent's property and possessions are distributed to the beneficiaries according to the last will. The law requires the trustee to execute these duties with the utmost honesty and...
The term "irrevocable trust" is sometimes used during estate planning; however, the exact definition of this term is not always clear. An irrevocable trust is a legal agreement that enables someone to transfer their assets to another person. This type of trust cannot...
An estate plan isn't for only the wealthy. Estate plans are for anyone who has family, medical wishes and assets they would like to see managed. Having your affairs in order before disaster strikes is no less than an act of kindness. Here is a checklist of what you...
You already know that you should reevaluate your estate planning if your family experiences a marriage, divorce, birth or adoption. However, there are some lesser-known circumstances that require you to take a second look at your will. A beneficiary is incarcerated If...
The purpose of estate planning is to provide clear direction into how your assets and possessions are to be distributed to avoid a lengthy and expensive process later in the event of incapacitation or death. Providing a will and assigning a Power of Attorney can ease...
One of the worst parts of growing older is that we often worry about the things we may leave unfinished. With proper estate planning, you can ensure that you leave nothing to chance. Especially if it pertains to the pets that you love so much. There are pet trusts...
There may be a time when you will have to pay the bills or make medical decisions on behalf of a sick loved one. Having a POA offers the ability to do those things, but the POA must be valid to be put into effect. It may be an easier process and ensure the validity...
Having an estate plan is vital. It ensures that your property or assets will be easily transferred to your chosen beneficiaries after you become incapacitated. There are numerous disadvantages of not having an estate plan, and they include family feuds, the exorbitant...
The Alzheimer's Association and the Alzheimer's Impact Movement are looking at a potentially groundbreaking legal policy win in the Equity in Neuroscience and Alzheimer's Clinical Trials Act (ENACT). Alzheimer's is currently an incurable and ultimately fatal disease...
Once you are gone, one of the biggest decisions you make when estate planning is determining who to put in charge of the estate. The position of Executor is not something to take lightly and can be a hard decision when multiple children or other loved ones are...
