Generally speaking, executors do not hold liability for any debts of an estate. If this were the case, nobody would be willing to take on an executor’s role. However, even though in most cases it is very difficult to sue an executor, it is possible. In the event that...
If your loved one recently passed away and they named you as the executor of their estate, you could have many different issues to work through. In addition to devastating emotional pain, you might have uncertainty with respect to your responsibilities. It is...
Your estate plan helps create a legacy after you are gone. It also ensures your family has the financial support they need when you can no longer assist them. Because the stakes are so high, you must be aware of common estate planning mistakes. Even seemingly minor...
Practically every person should have an estate plan in place. In addition to providing assets to your heirs, estate plans can also protect you while you are still alive in the form of long-term care planning and advanced directives. When it comes to will creation, you...
Probate is a legal process that involves many tasks. In addition to proving that a person's last will and testament is valid and legally sound, probate also entails locating and paying creditors, and ensuring heirs receive assets according to the deceased's estate...
The executor of an estate is a position of great responsibility. Some executors take advantage of this position for their own gain, while others have good intentions but lack the necessary competence. According to the Pennsylvania General Assembly, it is possible to...
Most Americans are free to prepare comprehensive estate plans that address a variety of end-of-life matters. Interestingly, though, according to Gallup, only about 46% of Americans currently have written a will. This number is down from 51% about 15 years ago. For...
An estate’s personal representative introduces the deceased’s will to the county probate court after the testator dies. If you wish to challenge the will, you may file a claim with the court. The probate judge, however, could ask to see proof that supports the...
If you recently lost a spouse and he or she did not have an estate plan in place at the time of their death, it is pivotal to understand what happens next. When someone dies and they do not have a will, they died intestate, and you need to familiarize yourself with...
If you own a business you want to pass down through your family, you must focus on building a succession plan as soon as possible. If something happens to you, your family may not know what to do with your company. Without a succession plan, you cannot predict the...
