Executors hold an important role in a person's estate plan. Many responsibilities fall on their shoulders. But exactly what are those responsibilities? What parts of an estate does an executor actually oversee? Managing finances Forbes talks about the responsibilities...
Estate Planning
Why do siblings fight over wills?
Most people know the stereotype of in-fighting in families due to a person's will or estate plan. Though it seems comical in movies, it is devastating in real life and can tear families apart. In particular, siblings have a bad reputation regarding squabbles because...
Who serves as a good executor?
Dealing with estate planning is not easy for anyone, least of all the executor. They act as a manager of sorts and have the kind of responsibilities that someone could expect of a managerial position. So who is up to the task of handling this sort of responsibility?...
Your estate plan can help protect important digital assets
The common perception of an estate plan is that it serves to pass on finances, real estate, and other tangible assets by way of certain legal documents. However, you likely have many digital assets that your family might lose if you do not include them in your will....
Who should receive a copy of your will?
If you have written a will, you are likely doing considerably better than most of your neighbors. In fact, according to reporting from CNBC, nearly 70% of Americans lack an estate plan. Now that you have finalized your will, you may wonder who should get a copy of it....
When to review an advance directive
An advance directive is a document you create to give instructions about the treatment you want to receive in the event that you become incapacitated and are no longer able to make your own medical decisions. It can also name a health care representative to make...
What mistakes should you avoid when naming beneficiaries?
Beneficiary designations have a significant impact on your estate plan and the final closure. If you do not name beneficiaries in your will, retirement accounts or life insurance plans, it can stall the closure of your plan or your assets could end up in the wrong...
Who should be your special needs trustee?
If one of your relatives has a disability or other special needs that make it difficult to work, he or she may have a hard time existing as an adult. Fortunately, government programs often provide meaningful benefits to those who cannot support themselves financially....
Should you give assets to a loved one who has a disability?
Dealing with an illness or injury can be challenging. If you have a loved one who has a disability, you may want to give cash or other assets to him or her. After all, while money does not buy happiness, it can make life easier for those who have disabilities. As you...
When may I add a business continuity plan to my estate documents?
An unexpected accident or medical emergency could result in a business losing an owner or a partner. If your organization relies on an individual’s skills, its business relationships may deteriorate after an illness or a death. As noted by Kiplinger’s Personal...
