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As a will beneficiary, you may worry about the possibility of estate mismanagement by the executor during probate. This can happen for various reasons, including an inexperienced or negligent executor, poor financial decisions or even outright fraud. The consequences...
When many people write their will, they’re planning on an immediate transfer of assets. For instance, maybe you have two adult children and $200,000 to leave them. When you pass away, you assume that each of them will get $100,000 right away. This is a simple and...
Estate planning doesn’t have to focus solely on what happens to your assets once you die. In fact, if you have significant assets, your estate plans should also include strategies to minimize potential financial drains – including excessive taxation. This is where a...
As technology has advanced, many aspects of our personal and financial lives have moved online, resulting in the accumulation of digital assets. Digital assets are a relatively new phenomenon. Nevertheless, they have become increasingly important components of both...
Most people are quite protective of their personal independence. They want to control what they do and when. Even those who struggle to make the best choices for themselves may not want to give up any personal authority. Therefore, the choice to pursue a guardianship...
Probate helps ensure that a deceased person’s will is genuine and that their assets go to the right people. The time probate takes in New York can differ based on several factors but typically lasts seven to nine months. It may take longer if it involves complex...
As you draft your estate plan, you begin by listing out the assets that you want to pass on to your children. You may have a significant amount of financial assets that you’ve saved up. You hope it can provide some financial stability to the next generation. Maybe you...
Special needs trusts are important tools for safeguarding the financial future of individuals with disabilities, ensuring they receive proper care and support while maintaining eligibility for government benefits. One’s choice of trustee is a crucial decision, as they...
Social media has become increasingly important in the modern world, and the odds are high that you use Facebook to connect with far-flung loved ones, communicate with friends, joke around in online communities and save cherished memories. What happens to all that when...
Taking care of your loved ones after you pass away is one of the most important things you can plan for. There are several different things that you need to ensure are taken care of as part of that plan. You need to set your estate plan, but you also need to make sure...