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When someone passes away, there are a number of details that must be tended to and resolved. This includes locating heirs, paying taxes, settling debts and distributing assets. These tasks are handled by a fiduciary, or someone who has an obligation to act in the best interests of the decedent. Unfortunately, there are times when a fiduciary fails to fulfill…
If you have a car, it is imperative that you frequently take it in to get the oil changed and to perform routine maintenance. If you don’t do this, your car will eventually break down, and it could leave you stranded in a very difficult position. Along the same lines, your will needs to be updated and maintained on a…
Wills get contested for many reasons. One is that the deceased lacked the capacity to make the will, and another reason is allegations of forgery. A third scenario, one that is somewhat common, is undue influence. So, what exactly is undue influence, and could it apply in your situation? Taking Advantage One way to explain undue influence is that it…
Estate planning designates material possessions and other assets to family members and other loved ones. For older people, it represents an opportunity to pass down cherished mementos from one generation to another. Yet, many baby boomers choose not to wait for a will to determine where their material assets go. They begin to hand over treasured possessions to the next…
Adults need to create a will early on in life and then regularly update it as the years go on. However, many people fail to even complete that first step. A Gallup poll suggests only 44 percent of Americans have any kind of will. Upon a person’s death, there is a submission of the will to a court so that…
There’s no question that many people find the subject of their own mortality rather uncomfortable. Indeed, it’s the reason why so many are loath to make doctor’s appointments, buy life insurance and, of course, execute the necessary estate planning documents. Indeed, a recently published study reveals that it’s not just wills and trusts that are being neglected, but also important…
Essential is a commonly used word defined as, “absolutely necessary and extremely important.” However, the word is creating a bone of contention between two companies in the consumer electronics industry. Andy Rubin, the founder of a new smartphone company called Essential, received a less than warm welcome into what many consider a cult of unique personalities. He and his business…
Your siblings were fine with your offer to take care of Mom, but would they feel the same if they knew that now she wants to change her will? It seems fair that because you rearranged your life to help her, she should acknowledge that with a financial award. However, you do not want them to accuse you of manipulating…
Actually establishing an estate plan is an important first step. Proactive strategies can provide peace of mind for you and your loved ones. However, you want to make sure you do things right. The smallest of mistakes can create the largest amount of chaos during difficult times. All too common oversights include: Trust Transparency An IRA can be the most…
Estate planning in any form presents challenges. Legal complexities combine with emotionally charges issued. Simply stated, few want to face their own mortality. Yet, important, highly proactive steps can ease burdens and provide everyone involved with much-needed peace of mind. More wills are covering property that exists in the digital world. New laws in Ohio may provide much needed help…