Understanding what happens when you inherit a house, as well as addressing the tough financial and emotional decisions on what to do with the home, can be intimidating.
Years ago he signed a power of attorney document naming me as his agent, so I could help him with these types of things. Not ever having done this before, what do I need to know about fiduciary duty?
The death of a beneficiary scenario can arise in settling either a probate estate or a trust administration. The beneficiary’s death affects both the administration of the first decedent’s probate estate or trust and the administration of the beneficiary’s own estate.
In many relationships, it’s common for one spouse to play money manager and the other to take a more passive role. This, however, can lead to major complications, when the financially dominant partner dies first.
