The business succession process is relatively complicated, and apart from handing off the business to a new owner, there are various other aspects to consider. You will have to look into all of the assets, liabilities that apply for the move, ensuring that all the wealth you’ve amassed stays in the loop. Any carelessness could cost you a lot in the long run. Here’s what you need to work on: Read More
5 Considerations to Make During Estate Planning
Estate planning involves designating individuals who will be passed down your assets and who will handle your asset related responsibilities. Read More
4 Misconceptions Regarding Divorce
You’re having major arguments with your spouse and have tried every possible solution to work it out. You've even gone for therapy, but nothing seems to help. You and your partner decide that it's time to part ways. Divorce is a sad but unfortunate solution to garner peace of mind and mental stability. Indeed, divorce rates have been increasing in the United States. But not many people are aware of the legal Read More
Administrator Removal: How to Do It the Legal Way
Very often, it happens that the beneficiaries aren't satisfied with an administrator. Whether they aren't happy with how they handle the probate process or how they breach their fiduciary duties, this can become a ground for removing an administrator. But do beneficiaries have the right to challenge the administrator's actions in court? Can heirs request the removal or replacement of an administrator? This blog Read More
The Premarital Checklist Before a Prenup
Most couples make the mistake of either not going for a prenup at all or miss out on details on paper that they regret not having discussed before. Time changes things and differences may arise, or there could be conflicts that are better off being ironed out beforehand. Here are some of the most important discussions and questions to be put forward when drafting a prenuptial agreement: Premarital Assets and Read More
What Happens To Your Estate If You Die Without a Will
When an individual passes away without having a valid will in place, they’re deemed by the law to have died interstate—which means that the administration and distribution of their estate will be done in accordance with the legislation. On the other hand, when you have a will, you can dictate the distribution of your estate and appoint an executor of choice who ensures your wishes are carried out. Who Administers 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
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
What Does Administering a Trust Involve?
Part of estate planning requires you to decide if you want a will, a trust, or both. Some people choose to have a will for specific items and a trust for others. There are benefits of having a trust in place beside or in addition to a will. To help you learn more about administering a trust and what is involved in a trust administration, it is important to know the basics about trusts. What Is a Trust? A trust is a Read More
