Estate planning can seem like an exercise in document creation. Indeed, you have to state your wishes in writing in one way or another. However, estate administration is another facet that you should consider when you are devising your estate plan. Last Will If you use a last will to serve as a vehicle of asset transfer, the person who will administer the estate is called the executor or personal representative. We should point out the fact that a female estate executor is sometimes referred … [Read more...] about What Is Estate Administration?
Estate and Trust Settlement
What Happens To A Living Trust When One Spouse Dies?
One reason for a living trust for a married couple is the opportunity to pass on their estates to their children in the most tax-efficient manner. When the first spouse dies, the surviving spouse is allowed to make use of all available tax benefits. This can be the difference between leaving your children the wealth you have accumulated and leaving them with barely enough to pay for funeral expenses. Can’t I just leave everything to my spouse? Typically, when one spouse dies, they leave … [Read more...] about What Happens To A Living Trust When One Spouse Dies?
Your New Year’s Resolution Should be to Make an Estate Plan
If you do not yet have an estate plan, you should make 2014 your year to create one. Whether you are a young adult, senior citizen, or anyone in between, you absolutely need an estate plan in place. Having the right plan will not only give you peace of mind, but will afford you and your family significant protections. Yet making a resolution is much different than actually sticking to it. Millions of Americans make resolutions every year to lose weight, save more money, or any number of other … [Read more...] about Your New Year’s Resolution Should be to Make an Estate Plan
