Grief can leave little room to think about paperwork and financial obligations. Yet if you have been named an executor, those duties often become part of life after your loved one’s death. Knowing what the position requires can make each step easier to manage. It may...
Losing a loved one is difficult enough without learning that their beneficiary forms do not reflect what you believe they truly wanted. If you find mistakes or unusual changes in the named beneficiary on a life insurance policy or financial account, you may wonder...
Beneficiary designations determine who receives assets like life insurance proceeds, retirement accounts, and other financial instruments upon the account holder's death. Disputes can arise and, in certain situations, an individual can contest the designations....
If you were named an executor (“personal representative” in Minnesota) of a family member’s or friend’s estate, it’s likely because they trusted you to carry out the job responsibly and honestly. As you may be learning now that you’re in the thick of administering the...
As an executor, you are responsible for ensuring a deceased person's wishes are honored. However, what happens when someone challenges the will? If you’re facing a legal challenge, it’s crucial to understand the common reasons family members contest a will. Knowing...
Trustees play an essential role in estate planning. The decisions they make have consequences for all parties involved. That is why, if you are a beneficiary in a trust, you must understand the trustee's responsibilities. This will allow you to identify wrongdoing and...
When a person passes away without a will, the legal term for that is dying “intestate,” so a court, called a probate court, takes charge of the distribution of that person’s assets according to state law. Intestate succession Without a will, the court will distribute...
Life is constantly changing, and sometimes these changes can affect your legal and financial interests long-term. As these things occur, it may be necessary to update plans and strategies for the future. After certain types of life changes, it is necessary to update...
If you are a parent, grandparent, family member or friend of someone who has special needs or suffers from a chronic disability, you may be concerned about their financial future and wonder how you can protect them so they can receive medical care and enjoy the best...
The intent of creating an estate plan is to have control over certain details of the future. For example, creating a will can provide one with the ability to have the final say over what happens to personal property after passing. Other estate planning documents can...
