before the executor actually loses or misappropriates estate assets or money. If you have reason to believe he is doing something wrong, you can file ashow cause proceedingin many states. This isn't a whole new
These plans may also include real estate, vehicles, business interests, works of art, and sometimes even debt. Most individuals prepare an estate plan with the assistance of a financial professional to guarantee that their desires are carried out precisely as they desire. Estate planning can ...
Probate is the process of making sure a deceased person’s assets are distributed according to their will, and if overseen by a court. Many people opt to name their estate planning attorney as their executor. If you’re not planning to use a lawyer, be sure to enlist someone you trust ...
responsibility, and good communication skills are all key qualities to look for. It’s also worth noting that you can appoint more than one executor if you wish to do so, although this can potentially lead to disagreements.
Estate sales aim to sell everything in the personal home of someone who has died or, sometimes, downsized, for as much as possible in only a few days. Professional estate sale companies charge around 35% of gross proceeds in exchange to relieving heirs and executors of most or all the det...
Pennsylvania may charge anywhere from $1,000 to $3,000 or more to draft a living trust. While you can find DIY options or use a template, keep in mind that any errors (whether in the document or when you go to fund the trust) can result in serious consequences for your estate plan...
Probate is the process of proving a decedent's will. The executor named in the will, also known as the personal representative, must bring it along with a certified copy of the death certificate to the probate court in the decedent's home county. While
It’s essential to note that having an estate plan is important, but it’s equally important to ensure that the appropriate fiduciary of your estate plan (i.e., executor, administrator or trustee) records a deed reflecting the transfer of ownership from the deceased person to h...
6 considerations to help minimize family conflict over trusts Speak with your family about your estate plan and trust(s) in order to get ahead of potential conflicts. Write a “letter of wishes” to accompany the trust document and help guide trustee decisions and set beneficiary expectations, ...
People typically name the remaining spouse or main beneficiary of the estate as executor. This makes good sense, since they have knowledge of the assets and the interest to see to a speedy wrap-up of the estate and the probate process. A competent friend may also be nominated, but you ...