Retirement accounts and IRAs are not part of the probate estate unless the decedent failed to designate a beneficiary. If there is no named beneficiary or if the beneficiary is “my estate”, the retirement plan will pass per the terms…
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The executor, administrator and trustee are also called fiduciaries. This is because they owe the estate, trust, and the beneficiaries of the estate or trust a fiduciary duty to act in the best interest of the estate, trust, and the…
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Just like at the opening of the estate and the filing of the Inventory, the beneficiaries can file objections to the account five days before the hearing.
The heirs or beneficiaries must receive a copy of the account by certified mail or must waive notice. Once notice is received the beneficiary has five days before the hearing date on the account to file objections to the account. …
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The heirs and beneficiaries must receive a copy of the inventory by certified mail or must waive notice. Once notice is received, each beneficiary has five days before the hearing date on the approval of the inventory to file objections…
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An executor or administrator of an estate is the person who is responsible for the administration of the estate. They must identify and evaluate the assets. They must identify and pay all bills. They are responsible for selling the assets…
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In order to give each beneficiary of the will and the heirs at law the opportunity to contest the will, each has to receive a copy of the will by certified mail or must waive notice in writing. Once all…
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There are three main purposes for using a revocable living trust as a part of your estate plan. The purposes are: Reduce or eliminate estate taxes Control over the beneficiary’s inheritance Probate avoidance During life, the creator of a Revocable Living…
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