There are now more than 70 million Baby Boomers in the U.S. However, millions of adult children may not be prepared to make important decisions about their parents’ future if necessary, because of a lack of knowledge about their parents’ finances.
Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed. Here’s a checklist to guide you through that mission.
A trustee is a fiduciary which, essentially, is a person that owes a legal, ethical and, perhaps, moral obligation to act in the interest of another.
Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed. Here’s a checklist to guide you through that mission.
You can reduce stress and expenses for yourself and your family, if you develop an estate plan that includes these important documents.
Has a family member or close friend asked you to serve as their executor, trustee or power of attorney? If you accepted the responsibility, do you know what this entails? Have you been given a copy of the documents you were named under? Do you know when you would begin serving in these roles? These are all important questions to ask or consider.
Is it better to transfer the title of the home to us, or to leave it as it is given her age and go through probate?
My aunt recently asked me to be the executor of her will when she dies. I’m flattered that she asked, but I’m not sure what exactly the job entails.
The distribution of some of our assets can be governed by contracts. Examples of these contracts include life insurance, investment accounts, bank accounts and trusts.
My aunt recently asked me to be the executor of her will when she dies. I’m flattered that she asked, but I’m not sure what exactly the job entails.
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