Many people try to keep their estate plans as simple as possible. They focus on protecting their loved ones and allocating their property. They might fail to address foreseeable issues that could arise during estate administration. Perhaps a testator has two children...
Managing the estate of someone who has just passed away is an honor, but also a weighty responsibility. Personal representatives (executors) are responsible for settling or administering the decedent's estate correctly and fairly. While essential, this process can be...
A personal representative administers the estate during the probate process. This is the period between the death of the testator and the heirs taking over ownership of their inheritance (closing the estate) as laid out in the will. While it is a court-controlled...
If your loved one left behind a will, their estate must go through probate, a court process that validates the legality of the will and administers the distribution of the testator's assets. Usually, the personal representative appointed in the will or by the probate...
Caring for an aging parent can be a challenge, and there is often a point when he or she may receive better care by living in a nursing home. When faced with this decision, you may wonder how to choose the right place for your loved one. According to the AARP, there...
When you’re doing your estate planning, it’s only natural to want to leave your adult children the property where you’ve spent many family vacations. However, when it’s a timeshare property (generally at a hotel or resort), it’s crucial to consider it carefully. Let’s...
More and more people are purchasing long-term care insurance to help pay for daily expenses related to disabilities or chronic illnesses. Although this insurance helps reduce the amount that an elder has to pay out of pocket, there are some pitfalls. Coverage denial...
Having an interest in a person's estate is a great honor, and one that you no doubt feel humbled by. Some might say that no matter what that interest may be, you should accept it (or the interest allotted to others) without question. Yet what if the terms of your...
As the parent of a child with special needs, your financial responsibility will likely continue after you are gone. Fortunately, government programs and long-term care planning options can help you provide for your child for his or her entire life. Here are three...
Long-term care for your loved ones should not have to be a burden to you or them. Insurance companies these days reconcile with the fact that cheap policies sold years ago demand pay from them today. In order to preserve their bottom line profits, they can work toward...
