Settling an estate can be complex and time-consuming—it all depends on how much “estate planning” was done. According to an article from yahoo! Finance titled “What Expenses Are Paid by the Estate vs. Beneficiary?,” the executor is the person who creates an inventory of assets, determines which expenses need to be paid and distributes the remainder of the estate … Continue reading Which Expenses are Paid by the Estate and Which by the Beneficiary?
Category: Executor
What Happens When Property Is Owned Jointly and an Owner Dies?
When property is owned jointly, the property may pass automatically to the other owner, passing without going through probate, according to an article titled “Everything you need to know about jointly owned property and wills” from TBR News Media Your will only concerns assets in your name alone without a designated beneficiary. Let’s say you have a joint … Continue reading What Happens When Property Is Owned Jointly and an Owner Dies?
What are the Components of an Estate Plan?
Estate planning doesn’t have to be challenging. It’s also one of the most thoughtful steps you can take for the people you care about. Estate planning is the process of who will handle your estate and receive possessions after your death, according to an article titled “10 Essential Estate Planning Documents You Need” from The Street. There are … Continue reading What are the Components of an Estate Plan?
What You Need to Know About Inheritance
Receiving an inheritance is a mixed blessing. It usually comes after a loved one has passed, while you are grieving and trying to figure out how to navigate finances. If you have received or anticipate receiving an inheritance, an article titled “Getting an Inheritance? Here are 4 Things to Consider” from Kiplinger, has some helpful information. It takes … Continue reading What You Need to Know About Inheritance
Why It’s Important to Update Your Estate Plan
When someone dies without having updated their estate plan for many years, the executors often face a difficult task of administering a disorganized and incomplete estate. At best, the executor needs additional time and resources to organize the estate. At worst, says an article titled “Estate plans require maintenance” from The Record-Courier, the decedent’s wishes and desired distributions … Continue reading Why It’s Important to Update Your Estate Plan