In succession law, disinheritance is the act by which the testator deprives the legitimate heir of the portion of the hereditary wealth that the law reserved for the said heir. It is not uncommon for individuals with high net worth to consider disinheriting their spouse for different reasons, but whether they can do it or not is the question. Read More
An Estate Executors Powers and Limitations
An estate executor is an individual appointed to carry out the estate distribution and will after the will-maker dies. You should name the estate executor as soon as possible though they can only act after your demise. Read More
3 Common Mistakes Made by Executors
Being an executor is not as easy a role as one might assume. An executor has to deal with the loss of a loved one while simultaneously trying to get their will implemented and their estate distributed. The whole process involves a lot of legal leg work and documentation; so, it’s actually quite easy to make mistakes along the way. Seeing as when you become an executor you gain legal authority to finalise a person’s Read More
Debt and Probate: What You Need to Know
Most people have their legacies, properties, and assets on their minds when drafting their Testament and Last Will. But several other things must be considered and specified in an estate plan. For example, specifying what happens to your outstanding debts or those of a loved one after they pass away is crucial. If you owed a loan or debt in your lifetime, your family will be responsible for paying for it, depending Read More
3 Key Reasons You Should Create an Estate Plans for Your Future
When we talk about estate planning, many people immediately associate it with the ultra-rich. However, contrary to popular belief, anyone can benefit from having an estate plan no matter what their net worth is. According to Forbes, only 42% of the adults in the United States currently have an estate plan such as a living trust or a will. While end-of-life planning can be depressing and seem morbid, it is Read More
Estate Planning: 3 Of The Most Common Mistakes and How To Avoid Them
Almost 50% of U.S citizens over the age of 55 don’t have a will, which is surprising when you consider that this crucial document allows you to achieve in death what you’ve devoted your entire life to—taking care of those you love. This can be a huge problem for heirs, since the legal process of dividing an estate – known as probate – can take a huge financial and emotional toll if there’s no will in place. With Read More
Understand these things about being the executor of an estate
Closing out the estate of a loved one after their passing is easier said than done. You may assume that acting as an executor of an estate is straightforward, but you'll soon come to find that nothing could be further from the truth. You should understand what you're getting into if you agree to be the executor of an estate. Before we go any further, remember this: You don't have to agree to this. Even if you'd Read More
5 mistakes estate executors must avoid
As the executor of an estate, you're staffed with more responsibilities than you probably realize. By taking a high level overview of the situation early on, you'll soon understand what you're up against and how to move through the process in an efficient manner. The one thing you never want to do is make a costly mistake. Fortunately, when you protect against these in advance, there's less chance of running into Read More
Will executor questions: These may be on your mind
It doesn't matter if you're acting as the executor of a will or choosing someone for this responsibility, it goes without saying that you'll have some questions to answer. The more information and knowledge you collect, the easier it becomes to proceed with confidence. To start, it's important to understand the primary responsibilities of an executor. In short, an executor is a person named in a will who has the Read More
How to remove an executor of an estate
Change is something that is inevitable when it comes to contending with an estate and probate. If you are dealing with the prospect of probate after a loved one has passed away, it is likely that you have come across outdated wishes and a set-up that is no longer appropriate to the situation. It is also quite common for loved ones of a deceased person to have issues with the executor of the will. You may feel that Read More
