Wills and trusts are the two basic legal instruments that people use to pass accounts and property on to their loved ones at death. Although a revocable living trust is often used in place of a will, the two are not mutually exclusive. You can have both a will and a...
The bad news: When a deceased person’s estate (all of their money and property) has to go through probate (the court-supervised process of distributing a deceased person’s money and property), it can be subject to a variety of costs stemming from attorneys, executors,...
It is important to think carefully about your ability or willingness to serve as an executor or trustee for someone else. If a family member or friend has asked you to serve as the executor of his or her estate or as trustee of a trust he or she is creating, there are...
