If someone has appointed you as a guardian or power of attorney should he or she become incapacitated or need that level of assistance in the future, you might find that it is more difficult than you imagined to transition into such a relationship. Even if someone has previously admitted he or she needs help, he or she might not feel that way on every given day, and it's natural for adults to fight for their independence in such situations. If you are a caregiver for someone who seems not to want help, there are some things you can do to ease the situation.
Being an executor for someone else's estate is a big responsibility, but it is also an honor. When someone names you as an executor, it means that the individual trusts you with his or her very last acts on this earth. The person believe you will honestly and lawfully abide by both the letter and spirit of one's wishes when handling estate matters, which includes paying debts and disbursing assets to heirs.
You might be surprised to know that investing goes hand-in-hand with several activities related to estate planning and estate administration. First, people use investing to build wealth over time, adding to their estates and building future stability for themselves and their heirs. Likewise, someone who is put in a fiduciary or trustee role over money left to heirs or a charity might also need to be aware of how that money is invested.
Digital assets are anything of potential value that is stored online or in digital format. An obvious example would be an online bank account; a less obvious example might include someone's social media page or online brand.
In our previous post, we discussed some of the benefits of the irrevocable life insurance trust. That is only one option that you have when it comes to creating your estate plan. While the components of your estate plan will vary depending on your personal situation and the goals of your estate plan, one constant point that you have to consider is who is going to be the personal representative of your estate.
By now, most of our readers know that planning for your final days and what will happen in the days and months following your death is of vital importance. If you have a life insurance policy, you probably already know that you shouldn't include that policy in you will because a beneficiary is listed on the policy. But, did you know that you can set up an irrevocable life insurance trust for the policy?
For a person who is dealing with any estate that has one or more trusts involved, knowing some specifics about trusts can often help them better understand what is going on. There are many different types of trusts that can be used to handle estate matters.
In our post last week, we discussed how people are handling an estate have to be able to handle the fiduciary responsibilities that come along with the duties. The fact of the matter is that not everyone is able to handle those responsibilities on his or her own. Instead, they need to know that they have someone they can call if they have questions or need help. We can be that person for your loved ones to lean on as they work through the duties of the personal representative duties they face in Florida.
Have you ever wondered how your heirs will handle your debts when you pass away? The answer to that question is one that many people don't think about. Some people think that debts are simply erased when a person dies; however, that isn't the case. When you pass away, your heirs will be left dealing with the credit card companies and collection agencies. Our readers in Florida might be interested in learning more about debt collection and estates.
Many people love their pets like they are their children. For some of those people, the desire to take care of their pets if something happens to them is very real. Pet trusts are one option that Florida residents have to ensure their pets are cared for when they die.