Consider the complexity of the estate, whether you have the time to devote to the immediate responsibilities, and the multitude of duties that will come into play when the individual who wrote the will, referred to as the testator, passes away. The testator has other options if you decide yo...
The UDTA provides a method for regulating directed trusts in California and establishes the duties and responsibilities of the non-trustee fiduciaries and directed trustees. The UFIPA includes specific changes to the California Probate Code that provide trustees greater flexibility in managing unitrusts,...
If you create a trust as part of your estate plan and are choosing a trustee, the same general attributes should apply. And if you struggle to identify someone in your personal life to serve as an executor or trustee, you can rely on a professional like an attorney or accountant, ...
If you’re considering taking on the job of an executor, be sure you understand your responsibilities. And if you’re not feeling up to the task, don’t be afraid to respectfully decline.
What Are the Duties of an Executor of Estate in Michigan? How to Close an Estate Account Responsibilities of an Administrator Over an Estate in New York What Is Michigan Probate law? Every state has probate courts, and Michigan has a probate court inevery county.The particular jurisdiction of...
Serving as Executor of an estate is not easy.Did you know that, in addition to the many responsibilities and duties Executors must attend to, they may be personally liable for things that go wrong in the course of fulfilling this important role?
The executor of the estate is a fiduciary, responsible for protecting the assets of the estate.[2] One of the executor’s first responsibilities will be to open an estate checking account.[3] This estate account can be opened at a local financial institution or bank by presenting the letters...
This CLE webinar will guide estate planning counsel and advisers on challenges relating to the trust and estate planning, administration, and litigation of digital assets. The panel will discuss accounting for digital assets and provide an analysis of the fiduciary responsibilities, legal obstacles......
An executor is an individual or entity appointed within a legal document (often within a Last Will & Testament) to carry out the wishes of a deceased person and to manage all the responsibilities required to settle their estate. Why is it important to focus estate information for your executor...
No, you can appoint whoever you want as your executor. This should be someone you trust who you know can cope with the responsibilities of administering your estate. Read More... Why Choose Irwin Mitchell? Estate planning is one of our core specialities at the very heart of our work in ...