Debt often remains outstanding in someone’s name after they pass away. An individual may not have entirely paid off their credit cards, they may have some outstanding utility bills or they may even owe property taxes or income taxes. It’s possible to plan for some of...
Trust & Probate Administration
2 responsibilities when an executor must sell estate assets
As the executor of someone's estate, you will have a lot of responsibilities to manage over the next few months. You have to secure and inventory their property. You have to notify their creditors as well as the beneficiaries of their estate. You will likely also have...
Should a single person use a trust?
You might think that you don’t need a trust since you don’t have a spouse or children, but trusts can be protective of you even if you’re a single person. Trusts help your estate avoid probate, so anyone who has to handle your estate if you pass away will be able to...
A closer look at fiduciary duties
Estate planning is an important process that offers security for you and your loved ones. Ultimately, only you know what your final wishes are, but you will most likely have to rely on professionals to ensure that they are carried out. Professionals who are placed in...
3 financial issues that can arise due to an executor’s inaction
The person who serves as the executor of an estate has to do a lot of work. They have to secure property and communicate with creditors. They have to initiate probate proceedings and file taxes. They may have to sell property and distribute items to family members....
Decanting: What can administrators do about “bad” trusts?
In Washington and other states, the administrator of an estate trust has a fair amount of power. Sometimes, such power can result in improperly administrated trust documents. However, in most cases, estate administrators want to do what is right for decedents and...