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...
You likely want the assets you’re able to leave your loved ones in your estate plan to make their lives easier. Maybe they can buy a larger home, worry less about how they’re going to pay for their kids’ college educations, put away some extra money for retirement and...
You finally talked your widowed father into putting his estate plan in place. You know that you’re going to have to give him some help or he’ll never get around to doing it. The problem is that you’ve got siblings on the other side of the country who will be expecting...
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...
For many people thinking about their golden years, avoiding a nursing home entirely is their top priority. They may go to great lengths to remain independent and in their own homes. However, all it takes is a single fall or a diagnosis with a genetic condition to...
When you first bought your life insurance policy, you just hoped that it would support your spouse and your new child if anything happened to you. It gave you a sense of security. As time has gone by, you’ve had more children and even grandchildren. You still have...
Estate planning is often perceived as a morbid topic, but in truth, it can actually bring happiness and security to you and your loved ones. There’s so much that can be done with a comprehensive estate plan. One of the key components of any estate plan is the will,...
Your estate plan may include documents that you created decades ago when you first got married or had children. If your wishes have remained roughly the same all that time, you may have seen no reason to change or update your estate plan. However, not only has your...
Specific topics in life, like death, aren’t easy to talk about. While death and estate planning aren’t easy to discuss, you still might want to let your loved ones know of your intentions prior to your passing. Suppose you made recent changes to your will with good...
When you set up a power of attorney, one of the first things you do is determine if it’s going to be a medical power of attorney or a financial power of attorney. This simply dictates what type of decisions the person who is named will be able to make for you. When...
