An estate executor is someone named in a will who ensures that your final wishes are carried out and your assets go to the heirs you designate. A successor trustee oversees a revocable trust you created if you become unable to do so or if you die. That successor...
Estate Administration & Probate
Why estate planning should be on every new business owner’s to-do list
As a new business owner, your sole focus may be getting your business off the ground. However, you also need to constantly have an eye toward the future, and that means getting an estate plan together. Your new business could flourish, and it may even become your...
Can a trust be used to avoid inheritance tax?
There’s a big misconception out there about trusts and what they can (and cannot) do for an estate. A lot of people think that trusts can be used to avoid inheritance taxes – but that’s not actually true. Trusts can be used to minimize (and sometimes avoid) estate...
3 Mistakes To Avoid When Creating A Trust
A trust can certainly be a useful tool when making an estate plan. You can use it to control how the money that you put into the trust is used in the future. That said, it's essential to carefully consider all of the steps you take when you make this trust. You don't...
Why Blended Families Should Include A Trust In Their Estate Plan
Getting remarried when you already have children can be a practical decision. Marrying someone with children of their own means that you can combine forces to parent together. Your children gain a stepparent and stepsiblings, while you gain a spouse and stepchildren....
What Is The Difference Between A Revocable And Irrevocable Trust?
If you're considering a trust as part of your estate planning, one of the first decisions you have to make is if you want to use a revocable trust – often called a living trust – or if you'd like to use an irrevocable trust. They're similar in some ways, in that...
What Is Trust Administration (And Who Is Responsible For It)?
Some people opt to pass assets down to beneficiaries through the use of a trust. This is an arrangement that enables the assets to bypass the probate process. A trust can be set up based on specific wishes from the creator. When a person creates a trust, the assets...
Can you choose to fully or partially disinherit family members?
When you die, the inheritance that you leave behind for your family members will strongly influence how they remember you. Most people want to leave behind resources to reward loved ones and ensure their bright futures. Others may have to consider whether a family...
If your parent passes away with outstanding debt, is it now yours?
When your final living parent passes away, you know that you are going to get their assets in one capacity or another. These assets may be put in a will, put in a trust, given as gifts before they pass away or otherwise passed down to the next generation. If you have...
How a specialized real estate agent can help estate executors
If you’re the executor of an estate that includes a residential property that has to go through probate, you have a considerable responsibility – and a lot of work – ahead of you. Not only do you have to worry about selling the property or distributing it to one or...