You have many decisions to make when you’re creating an estate plan. Many of these have to do with who will receive which assets, but there are other factors that you need to think about when you’re setting the terms for this plan. One decision that you have to make...
Losing a loved one is a challenging time that’s filled with emotions and a need to take care of their final affairs. One question that often comes up is what happens to the debts they have. A person’s debts don’t automatically get forgiven when the person dies....
During estate administration, personal representatives have many tasks to perform. They have to secure estate resources. They need to communicate with beneficiaries and other interested parties. They need to attend court hearings and appropriately distribute estate...
The shock of learning that your parent didn’t include you in their will or anywhere in their estate plan can be devastating on top of such a significant loss. Even if you hadn’t been close in many years, you likely expected to receive something – especially if you...
As your business grows more reliant on digital tools, planning for the future of your digital assets becomes critical, especially when thinking about succession. Email accounts, websites, cloud storage, customer databases and online banking access are no longer...
Creating an estate plan is a multistep process that involves taking an inventory of assets and determining who should receive what when you pass away. Once you know that information, you have to decide what method to use to get those assets distributed. Some people...
If you ask people why they haven’t written a will, one thing that they often say is that they don’t think they need it at their age. Generally, these people are relatively young, and they assume that estate planning is something they’ll do in 20 or 30 years. Most...
One potential reason for estate litigation is undue influence. This happens when someone coerces or manipulates another person to change their will. Other beneficiaries may then challenge the will during the probate process if they believe undue influence occurred. So...
Estate administration involves many responsibilities for a personal representative. They have to locate the will and submit it to the courts. They have to physically secure valuable assets and create an inventory of property. They need to communicate with...
Last year, Nevada’s reputation as a good place to set up a family trust made worldwide headlines. That’s because media scion Rupert Murdoch and his oldest son Lachlan sought a modification of the Murdoch Family Trust held in Nevada. This irrevocable asset-protection...