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April 2018 Archives

How do you protect your position as executor of an estate?

Handling an estate on behalf of a deceased loved one is often a difficult task. First, you have to review and make sense of the last will and estate plan. Then, you have to submit all necessary documentation to relevant parties, such as the bank and creditors of the deceased. Finally, you have to pay off debts, sell assets and allocate different possessions to different heirs per the instructions in the last will. It can be a daunting and thankless process.

Do revocable living trusts help avoid probate?

Avoiding probate is not always simple or even possible, but it usually well worth the effort to do so. On of the most common tools used to circumvent the probate process is forming a revocable living trust to hold assets that would otherwise pass through probate and likely diminish greatly in the process.

What are personal and marital estate tax exemptions?

When developing your estate plan, it is important to understand the all of the exemptions and protections you can use to keep your property safe from costly challenges and taxation. With careful planning, you can use many legal tools to create protections for your property and your beneficiaries. For those with substantial estates, it is important to understand two of the most widely used protections: the personal exemption and marital deductions from the estate tax.

How do you choose a strong trustee?

When you decide to create a trust, one of the most important pieces of the puzzle is identifying someone who can serve effectively as a trustee. Many people do not fully understand the responsibilities that a trustee carries, or the complications that a trustee who does not uphold his or her position can create.

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