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Many people expect to inherit money when their parents pass away. But there are a lot of cases in which it turns out that there is not really any money left in the estate to inherit. In some cases, this is simply because the parents didn’t leave any financial assets...
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Before the execution of a will, the estate must pass through a probate court. During probate, the court certifies the will's validity and gives the go-ahead for its execution. The responsibility to carry out the wishes of the deceased in the will lies with the...
A crucial part of estate planning is drafting a final will. This legal document dictates how your assets are distributed upon your death. However, there is so much more to estate planning than this. You may wish to utilize other instruments, such as trusts, which are...
Many people expect their funeral to be costly and plan on paying the cost ahead of their death. It’s a great way for the deceased to ease the weight of their death off their loved ones’ shoulders. Yet, it seems funeral costs get higher each year, making it hard on...
When a loved one passes away with debt, their estate is supposed to settle any outstanding financial obligations. Part of the probate process involves consolidating assets and paying off the deceased creditors before distributing the estate to the heirs. Usually,...
The assets that comprise someone's estate will determine the legacy that they leave for others. Their property can help support their spouse and children or even fund a nonprofit organization or a scholarship that will change lives. However, the assets in an estate...
Typically, a person’s home is the most valuable single asset – or at least the most valuable real property – that they leave behind when they die. Often, people designate in their estate plan that their home is to be sold and the proceeds returned to their estate to...
When your parents made their estate plan they named you the executor because they wanted to provide for you and your siblings after they were gone. They also wanted to ensure that some of their more valuable items ended up in the right hands. Now, the time has come...
Creating an estate plan, naming beneficiaries and updating the documents regularly will help ensure that your assets are distributed based on your wishes after you pass away. However, what happens if someone dies without a will or named beneficiaries? How will their...