Writing an estate plan is the first step toward securing property and making sure your wishes are carried out. When the plan is done, there’s still one vital step to making sure that your will is carried out as you want: choosing an executor. In short, the executor of an estate is the one who makes decisions after you’re gone.
If you’re designated as an executor, you will most likely have to manage and resolve creditor claims against the estate in question. Here are some main things you will need to know to handle creditor claims against an estate.
The death of a loved one is not only painful, but can be stressful for those left to settle their affairs. When the time comes you may be responsible for managing a number of tasks quickly. Will you know what documents to look for and what agencies to call? The process will be much more peaceful if you are prepared for what to do when a loved one dies.
You have spent years developing your small business, but have you considered what will happen to it once you are out of the picture? Unfortunately, a number of small businesses fall apart when their owners retire, become incapacitated or die. Develop a plan to protect your business' legacy, and ensure that it continues to thrive once it is out of your hands. Let's take a look at some of the most popular succession options.