A Good Trustee Who Makes a Good Trustee? Not surprisingly, when choosing a trustee, the most critical characteristic is that they are great with finances and very trustworthy. Specifically, the trustee must manage the funds in accordance with your intent and instructions that are left in your trust. Consider whether he or she will honor…
What Are the Duties of an Executor? The duties of an executor, sometimes called a personal representative, is the person who is named in a will or appointed by the court and is responsible for probating the will and settling the estate. Depending on the state, an executor may work under court supervision or may…
Estate Planning Having an intentional financial strategy for incorporating your new grandchild’s future in your overall estate planning for grandchildren is an essential part of addressing your growing family’s needs. Not having an estate plan can have unintended results for your surviving family members. This is because intestacy — or your state’s applicable laws that…
How to Execute the Proper Estate Planning Documents? Execute the Proper Estate Planning Documents: A properly executed Will or Trust will allow you to state how you would like your assets to be transferred — and who will receive these assets — at your death. A Will or a Trust also lets you identify who…
How to Transfer Frequent Flyer Miles After Death Transfer Frequent Flyer Miles After Death: The main takeaway is that although airline policies may say they don’t allow miles transfers after death, employees often have the discretion to approve them. Still, there’s no sure way to know whether your airline will work with your loved ones…
Long Term Care Where Do You Start? Number one for your Long Term Care, you should develop a picture of how you want to be cared for once you need assistance. This includes renovations to your home so you can remain there as long as possible or determine whom you want to help you with…
What is an LLC Operating Agreement? An LLC Operating Agreement is the document where a Limited Liability Company memorializes its rules and structure. It’s perhaps the most crucial document an LLC creates, as it creates the unique roles and framework of a business. Every LLC should have one. Although many states do not require LLCs…
Forming an LLC Creating a Limited Liability Company (LLC) is a much easier process than creating a corporation and usually requires less preparation and paperwork. LLCs are under the authority of the state law. So the process of forming an LLC will depend on the state in which it is being filed. The majority of…
Accessing an Elderly Parent’s Bank Account With Siblings Money’s the most significant reason adult siblings will fight over their Elderly Parent’s Bank Account. Joint bank accounts can undoubtedly lead to disagreements. If one of the siblings is a primary caregiver or might help their aging parents manage the finances and pay their bills, it could…
The HOA Law The HOA Law: HOA conflicts are so common, and the cases have gotten so costly and entangled that there are precisely hundreds of laws in each state meant to cover the rights of both the HOAs and the individuals. Sadly, this is where the interpretation of the law can emerge primarily. For…