What are Responsibilities of Trustees and Executors?
A trustee is a fiduciary which, essentially, is a person that owes a legal, ethical and, perhaps, moral obligation to act in the interest of another.
Does a Married Couple without Children Need a Will?
In fact, many couples with no children mistakenly believe that they are less likely to need a last will and testament than couples with children.
Checklist for Estate Plan’s Success
Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed. Here’s a checklist to guide you through that mission.
Do You Pay Income Tax when You Sell Inherited Property?
My great-grandfather was a farmer and had about 23 acres when he died. My grandfather passed away before my great-grandfather. The land was put in a trust for my mother and uncles. My mother passed away two years ago.
How Important Is a Power of Attorney?
With a Power of Attorney, you designate which individuals are in control of your assets and who can take care of your affairs, if you are unable to do so.
When Should an Estate Plan Be Reviewed?
The documents may still be valid but if they are stale or outdated, you may spend significant money trying to use them down the road.
Estate Planning Matters for Singles
If you don’t have a spouse and children, you might not think you need to do any estate planning—but that’s not the case.
What Is Probate and How Does It Work?
Probate survives as a procedure originally implemented by the King of England to protect his citizens from themselves and their greed.
What are Typical Estate Planning Documents?
If you want loved ones to remember you fondly, tackle your estate planning tasks. Your heirs will thank you for not leaving a legal mess to sort out.
Should You Add Someone to Your Bank Account?
I know of someone who was joint account holder with his dad for many years, then later his dad then appointed him as power of attorney. How does that work? Is the son still a joint account holder?