You have been named and are now acting as personal representative of mom or dad’s estate or trustee of their trust. You are a fiduciary, who is someone who handles funds or property of another. You have a fiduciary duty …
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Estate Assets Subject to the Deceased Creditors
In a previous column, we discussed what would happen if you died and your debts exceeded your assets. However, do you know what would happen if you did leave bank accounts or other assets? What debts would have to be …
Survivors Not Responsible for Deceased’s Debts
After a loved one dies and if they have really racked up the debts, the bill collectors start calling. They will often harass and hound the family in order to get payments made. If the family does not investigate their …
Medical Decision Making for Young Adult Children
It is the high school graduation season and now time for my annual column for young adults. If you have any adult high school or college aged children, they are responsible for making their own medical and mental health care …
If There Is No Will, There Is A Way
If you are like the majority of people in America, you do not have a signed will. Just because you do not have a signed will, does not mean you do not have a “will”. In the absence of a …
How to Leave an Inheritance to a Child or Other Beneficiary
You want to leave everything to your children or other beneficiaries after you are gone. If you are like many people whose estate plans I have reviewed, you may have just left outright distributions to them. However, when you leave …
Wills Guarantee Probate
“Dad’s (or Mom’s) will says I am the sole beneficiary. I took the will to the bank, but the bank refused to give me my money. Why won’t the bank give me my money, when Dad’s (or Mom’s) will says …
What Do We Do With The Car
Have you ever thought about what is going to happen with the family car after your death? The answer is the typical legal answer, depends; and I am not talking about the kind you wear. If your car is in …
Incapacity and Financial Powers of Attorney
Have you ever thought about what would happen to your real estate, bank accounts, investments and other property (your “stuff”) if you could not take care of them because of incapacity due to an accident, illness or injury? How would …
If There Is No Will, There Is A Way
If you are like the majority of people in America, you do not have a signed will. Just because you do not have a signed will, does not mean you do not have a “will”. In the absence of a …