An essential part of estate planning is selecting someone to represent you after your death in the management of your estate. This personal representative is also known as an executor, or executrix, if you choose a woman as your personal representative.
What happens if you inherit your loved one’s home? What if they still have payments to make on their mortgage? We’ll explore these and other questions you may have below.
The Covid-19 has produced a rise in estate planning…but not a large enough one. Most Americans still do not have a last will and testament.
The heirs of Samsung Electronics Co. Chairman Lee Kun-hee, who died Sunday, could face billions of dollars in inheritance taxes. However, that doesn’t necessarily mean they’ll have to cede control over the group by selling shares.
When dealing with the emotional pain of the loss of a loved one, family members also have to address daunting administrative tasks.
After art dealer Andre Zarre died in July, at age 78, his relatives got a surprise call from someone named Jose Yeje, co-owner of a deli in Queens. Yeje told them that, just nine days before his death, Zarre changed his will to name Yeje as the executor and sole beneficiary of his estate, which is worth millions.
In addition to writing wills, Minnesotans are now setting up trusts to care for pets, ranging from dogs and horses to parrots and raccoons.
Cornelius Vanderbilt was among the richest Americans ever to have lived. Born in 1794, he built his fortune on railroads and shipping. To put his wealth into context, in today’s dollars when adding inflation, his fortune would be worth $215.7 billion.
Estate planning is the process of transferring the management of your assets, if and when you are unable to manage them yourself due to disability or death. Whether you have $100 or $100 million you should have an estate plan.
It’s difficult to go a few hours without interacting with a digital account. Whether that is email, online banking or social media, many daily tasks involve digital informational storage.