If you start to hear bits and pieces about the estate planning process, you will invariably run into the concept of probate. Most people have had no exposure to it so there are invariably going to be questions. We will try to answer some of them in this post. Legal Process of Estate Administration Probate can be succinctly defined as the legal process of estate administration. If you die while you are in possession of property that is going to be transferred through the terms of a will, the … [Read more...] about Will My Estate Be Subject to Probate?
Back in the day, all property and records related to monetary assets were tangible. From an estate administration perspective, trustees and executors would handle hard copies of everything, and property of value would be physical. Now, the playing field has changed since we spend so much of our lives in a virtual space. This shift has added a new facet to the estate planning process. With this in mind, let’s look at some of the steps that you can take when you are planning your estate to … [Read more...] about Digital Estate Planning 101
People often think about estate planning as an exercise in document creation, and you certainly have to record your final wishes in writing. That being said, there is an additional element you should seriously consider. After you are gone, there will be administrative tasks to complete so you have to arrange for some type of representation. Last Wills and Probate If you use a last will as the centerpiece of your estate plan, you would name an executor in the document. This is the individual or … [Read more...] about Estate Administration: Legal Guidance Is Invaluable
Times have changed when it comes to the way that we communicate with others, pay our bills, and store information. There was once a time when people would keep all the information that their executors would need in a locked filing cabinet and make the keys available. Clearly, paper documents can still be part of the equation, but there is now a digital component as well. In this post, we will provide some food for thought with regard to the steps that you can take to address your digital life … [Read more...] about Estate Planning in the Digital Age
In most families, there are certain professional resources that have served multiple generations. For example, you may have a long-term dentist that your children went to when they were very young. Years later, the dentist’s office may actually provide dental care for your grandchildren. This is a phenomenon that can definitely enter the picture when it comes to a relationship with an inheritance planning attorney. Plus, there are actually tangible benefits that can be added to the trust factor. … [Read more...] about Build a Long Term Relationship With Your Inheritance Planning Attorney
You should understand a bit about the process of probate in North Carolina if you are using a last will to arrange for the transfer of your monetary assets. These assets are not transferred to the heirs immediately. The process of probate must run its course before your loved ones will receive their inheritances. Probate Process in Charlotte The executor or personal representative conducts business on behalf of the estate. The probate court supervises the administration of the estate. During … [Read more...] about Do I Need a Probate Lawyer in Charlotte?
The process of estate administration is something to consider seriously when you are making preparations for the future. The best way to go about estate planning is to envision a turnkey situation. If you do things optimally, you can make things simple for your loved ones after you pass away. With this in mind, let's look at the role of the executor of an estate in Charlotte North Carolina. Estate Administrator An executor is an estate administrator. When you create a last will you should … [Read more...] about What Is an Executor in Charlotte North Carolina?
It can be difficult to get people to recognize how important it is to commit their final wishes to writing in one form or another. But if you are ready to finally put the procrastination behind you, gaining an understanding of estate administration details is part of the process. Assuming you are using a Last Will to direct the transfer of assets to your heirs, the estate will be subject to the probate process. During this time the probate court supervises the administration of the estate. The … [Read more...] about A Look At Estate Administration
If you’re like most people, you’ve heard the term “estate administration,” but may not be familiar with the term “trust settlement.” Trust settlement is similar to estate administration, but not the same. Both terms refer to wrapping things up after a death. Here is some information to help you understand trust settlement. Who’s in charge of trust settlement? The trusted family member, friend, or professional that you named as trustee of your trust is in charge and holds legal title to … [Read more...] about What is Trust Settlement?