If you’re the beneficiary of an estate, you might be expecting a nice inheritance – but don’t go spending that money quite yet. Before heirs can receive their inheritance, the estate’s creditors must be paid. This typically occurs during the probate process, and it...
Long-term care costs can devastate an estate. When a person dies owing money for long-term care, an lien may be put on any property the deceased owns, and a claim may be made against the estate. Here’s what you need to know about long-term care costs and personal...
If you’re serving as the personal representative of an estate, you’re taking on a big responsibility. As the personal representative, you’re tasked with making an inventory of the estate’s assets, paying debts and distributing the remaining assets to heirs. A court...
After a person dies, the estate typically has to go through probate, a legal process in which a court oversees the distribution of assets and payment of debts according to the terms of the will. Although probate can sometimes be avoided through estate planning, it is...
The concept of a will is fairly simple. You want to tell others how your estate should be distributed after your death, so you state your wishes in a document. In reality, however, wills can get complicated. This is especially true when handwritten wills are involved....
Estate planning is important for everyone, but it’s especially important for parents with minor children. In addition to deciding how to distribute your assets, you must also make decisions to ensure that your children will be properly cared for. This includes making...