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If I want my successors to get access after I pass, how will you know to let them in?

Learn how to use your pro forma Estate net worth effectively

What does the pro forma Estate net worth mean?

Dealing with inherited jewelry can be emotionally charged and logistically complex. Here are some best practices to guide you through the process:

Best Practices for Handling Inherited Jewelry

Dealing with inherited artwork and collectibles can be complex and emotionally charged. Here are some best practices to guide you:

Best Practices for Handling Inherited Artwork or other Collectables

Generally, the beneficiary designation on a financial account overrides the instructions in a will or trust.

When Beneficiaries on a Financial Account Differ from a Will or Trust

Dealing with inherited firearms requires careful attention to legal, safety, and emotional factors. Here are some best practices:

Best Practices for Handling Inherited Firearms

Losing a loved one is incredibly difficult, and the process of planning a funeral can feel overwhelming. Here are some steps to help you navigate this challenging time.

Things to Consider in Planning a Loved One's Funeral

Setting up compensation for yourself as the executor of an estate involves several considerations to ensure that the compensation is fair, reasonable, and compliant with legal and ethical guidelines. Here’s…

Setting Up Compensation for yourself as the Executor of an Estate

Why to Notify the VA as Soon as Possible

If you will be compensated by the estate, time tracking reduces the risk of issues with the estate beneficiaries.

Tracking Time is a Critical Step for an Executor

Tracking and reporting expenses accurately is crucial for transparency and accountability to the estate's stakeholders, creditors, and the probate court.

Tracking and Sharing Estate Expenses

RS Form 56, Notice Concerning Fiduciary Relationship, is used to notify the Internal Revenue Service (IRS) about the creation or termination of a fiduciary relationship.

Understanding IRS Form 56

To obtain legal authority to act as the executor of an estate that has a will, you must go through the probate process. Here are the steps you need to…

Obtaining Legal Authority When Only a Will Exists

Act as the executor for an estate where you have been named as a successor trustee in the trust and a proxy in a general power of attorney.

Obtaining Legal Authority with a Trust and General Power of Attorney

When settling a loved one's estate, it’s essential to compile a comprehensive list of all assets to ensure that everything is accounted for and properly managed.

List of Assets to Look for When Settling an Estate

As an executor and a successor trustee, you have distinct but sometimes overlapping responsibilities in managing and settling an estate.

Understanding the Role of Executor and Successor Trustee

Dealing with digital assets as an executor of an estate involves specific steps to ensure these assets are managed appropriately and securely.

Consideration When Dealing with Digital Assets

Obtaining tax filing is a crucial step. Properly handling the decedent's tax obligations ensures compliance with the law, prevents penalties, and helps accurately distribute the estate's assets.

Why do I need past tax filings for the decedent

This article describes your responsibilities and some logical steps to understand the decedent's business interests.

Dealing with the decedent's business

Addressing these financial obligations ensures compliance with legal requirements, protects the estate's assets, and provides beneficiaries a clear and fair distribution.

Understand the decedent's bills and debts

This number is used to identify the estate for tax purposes and to properly manage the estate's financial affairs.

Why do I need a new tax ID for a decedent?

Be it a home or a car, there are reasons you, as the executor, should take care before allowing people to occupy the decedent's home or other valuable property.

Risks in not sufficiently protecting decedents assets

As an executor of an estate, it is important to inform various government agencies about the decedent's death.

What government agencies do I need to consider informing

Setting up an allowance for the decedent's descendants as an estate executor involves careful planning, clear communication, and adherence to legal requirements.

Consideration in setting up an allowance or providing funds to dependants

It is often advisable to seek legal counsel related to probate and trust administration.

Should I hire an estate or probate attorney?

There are several resources available to help you find a probate or trust administration lawyer.

How to find a probate attorney or trust administration attorney

When settling an estate, if some of the assets that were supposed to be held in trust have not been titled in the name of the trust, it can complicate…

Implications of estate assets not held in the trust

The threshold for avoiding probate varies by state and is often determined by the total value of the estate's assets.

Dollar threshold to avoid probate by state

Understanding why I need to provide a copy of the will to the probate court

Selling a property owned by an estate as an executor involves several steps.

The process to sell a property held by the estate

Transferring property to beneficiaries as the executor of an estate involves several steps

The process to transfer a property held by the estate

As the executor of an estate, dealing with the decedent’s bank accounts, including checking and savings accounts, involves several important steps.

Dealing with bank accounts

As the executor of an estate, handling the decedent's credit accounts, such as loans and credit cards, is an important part of settling the estate.

Dealing with credit accounts

Retirement accounts involve understanding various aspects, including tax implications, beneficiary designations, and distribution options.

Dealing with retirement accounts

Federal estate taxes can be a complex area to navigate as an executor of an estate.

Understanding federal estate taxes

Understanding state estate and inheritance taxes

Filing final taxes may involve several types of tax returns.  This process is best guided by a tax accountant.

Filing final tax returns for the estate

This article shares some things to consider in the final phase of settling an estate

Best practices in distributing estate assets

5 non-obvious things you must do quickly when a loved on dies

The executor of an estate is not necessarily responsible for planning the decedent's funeral, but they often play a key role

Executor's role and responsibilities in planning the funeral

How to set up your settlement vault and navigate the process

Estate Settlement: Getting Started

Inherited IRA rules: 7 things all beneficiaries must know

This article gives an overview of probate in California

Probate: California

This article is a primer on Probate and summarizes when it is likely not needed, when it is likely simple, and when it will be more complex

Understanding Probate

Comprehensive List of Websites to Request Death Certificates in Each U.S. State

Where to Request a Death Certificate

A notice to creditors is a crucial step in the settlement process, serving to inform anyone who might have a financial claim against the deceased person's estate.