Estate Administration
2 implications of a trustee’s fiduciary duty to beneficiaries
When someone takes the time to create a trust, they will likely put in place numerous rules about the use of the assets used to fund the trust. The trustee that they empower to manage and distribute those assets will have a powerful obligation to the beneficiaries...
Handling your parents’ estate
It can be difficult to handle the death of a loved one, but when you are left to deal with their estate, things can get even more complicated. If you have been named executor in your parents' will, it is important to know the next steps. The responsibilities of an...
Which creditors must you contact as representative of an estate?
Whether you volunteered to serve as the representative of someone's estate years ago or the probate courts appointed you, all of the major responsibilities fall to you. A big part of estate administration involves fulfilling someone's outstanding obligations after...
If your parents die in debt, do you have to pay?
When your parents passed away, you knew that they would have assets to leave you. You also knew that they had named you as the estate executor. You are the one who is in charge of gathering up those assets, reading the will, talking to the other family members and...
Does estate administration require you to file a tax return?
Serving as the executor of someone's estate is a big responsibility. If you accept that role, there are certain obligations you must fulfill. You don't just need to collect and distribute the deceased person's property. You have to also resolve their personal matters...