What Are The Powers And Responsibilities of an Executor?
What are the powers and responsibilities of an executor?
An executor is responsible for the administration of an estate. The executor’s signature carries the same weight of the person whose estate is being administered. He or she must pay the deceased’s debts and...
People….The Essential Component of Your Estate Plan’s Success
People. The Essential Component of Your Estate Plan’s Success
Properly drafted estate planning documents are integral to the success of your legacy and end-of-life wishes. Iron-clad estate planning documents, written by a knowledgeable attorney can make the difference between the success and failure of...
Testamentary vs Inter Vivos Trusts
The world of estate planning can be complex. If you have just started your research or are in the process of setting up your estate plan, you’ve likely encountered discussions of wills and trusts. While most people have a very basic understanding...
Family Foundations: What, Why and How
Family Foundations: What, Why, and How
Families with significant net worth who have a tradition of philanthropy often consider establishing a charitable foundation as part of their estate plans. While there are a number of advantages to using family foundations as a philanthropic...
Paying for Your Grandchildren’s Education
The bond between a grandparent and grandchild is a very special one based on respect, trust and unconditional love. When preparing one’s estate plan, it’s not at all uncommon to find grandparents who want to leave much or...
Should a Power of Attorney be a Part of my Estate Plan?
Should a Power of Attorney be a part of my Estate Plan?
A durable power of attorney is an important part of an estate plan. It provides that, in the event of disability or incapacitation, a preselected agent can be granted power over...
When is a Person Unfit to Make a Will?
When is a person unfit to make a will?
Testamentary capacity refers to a person’s ability to understand and execute a will. As a general rule, most people who are over the age of eighteen are thought to be competent to make and...
How to Calculate Estate Tax
How to calculate estate tax
In order to predict how much your estate will have to pay in taxes, one must first determine the value of the estate. To determine this, many assets might have to be appraised at fair market value. The...
What is a Tax Basis and How Will it Affect My Estate Plan
A tax basis is essentially the purchase price of a piece of property. Whenever that property is sold, the seller must pay taxes on the difference between the sale price and the original purchase price. This concept applies to all property, including...
Selecting An Executor Post Mortem
The death of a loved one is a difficult experience no matter the circumstances. It can be especially difficult when a person dies without a will. If a person dies without a will and there are assets that...