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What Does an Executor Do?
If you have been chosen to be the executor of someone's estate, you have been given a great compliment and an immense responsibility. You have been entrusted with the precious duty of seeing to it that what remains after someone passes is distributed exactly as that person wished. Testamentary Trust, and Totten Trust. ">Continued
What Are Video Wills
Video wills are where the person states and reads aloud his will before a video camera. One benefit of a video taped will is that it can help avoid a will being contested, by displaying the person was competent and followed the proper signing formalities. However, many states do not recognize a video will, as a substitute for a written will. In specific circumstances, the person has to prepare both types of will.
The Worst Excuses For Not Having A Last Will and Testament
What should every adult have, but nearly three quarters do not? The answer-an up-to-date Last Will and Testament.
Most people do not have a legal Will because of these top 10 excuses: ">Continued
When is Probate Necessary?
Probate is the court process to determine who receives assets owned by someone who has died. The court appoints a personal representative (or executor) to take charge of the estate, pay all debts and taxes and, ultimately, distribute the remaining assets to the heirs.
There are occasions when the probate process can be avoided. This typically happens when assets have been transferred prior to death or proper beneficiary designations have been made such as a POD (Payable on Death). ">Continued
Financial Toll of Being a Caregiver
Caregivers, on average, spend more than $5,500 per year in out-of-pocket expenses. Out-of-pocket expenses for Long-distance caregivers can exceed more than $8,700 per year for incidentals such as transportation, food and supplies. ">Continued
Important Things Your Family or Executor Will Need to Know
Does your family know if you have a Will, and if so, where it's located? How about account numbers and contact information of your lawyer and safety deposit box. Writing these things down now will make it so much easier for the person handling your affairs. ">Continued
The Probate Process
The process begins when the person named in a Will as personal representative (sometimes called an "executor") files papers in the local probate court. This person must prove that the Will is valid. In some states a valid Will requires two witnesses to testify that the person who created the Will was of sound mind and knew what he or she was doing. These witnesses must sign the Will in the presence of each other at the time the Will is created. The personal representative usually provides the court with proof of these requirements in an affidavit signed by at least one of the witnesses. ">Continued
6 Steps To Creating Your Will
Creating and updating a Will is not as intimidating as many people think.
Read the following article for an easy-to-follow guide to creating a Will. ">Continued
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