Usually when asked to be the executor of a family member’s estate, the person feels honored and trusted. It’s a big responsibility, since the executor will be tasked with carrying out a loved one’s final wishes.
Like a lot of estate planning vehicles, irrevocable trusts work very well for some purposes—particularly for tax avoidance and asset protection—and not so well for other purposes.
A Clark County judge has awarded Tony Hsieh’s father and brother administrative duties to begin the process of sorting out the Las Vegas visionary’s vast wealth and estate, after he died last week and left no known will or estate documents.
Creating a will is one of the most basic elements of estate planning. There are different types of wills you can choose from, including a simple will.
Debts, just like assets, are considered part of a person’s estate. When that person passes away, their estate is responsible for paying any and all remaining debts. The money to pay those debts comes from the asset side of the estate.
In a massive turn of events, the Denver Broncos may finally get a resolution to the fiasco that is the team’s ownership situation; only it may not come in the way that it was originally planned.
Do you have answers for these four questions? Then congratulations and rest easy: You really are ready to retire.
A living trust is an estate planning legal document that contains your instructions and authorization for what you want to happen to your assets, when you become disabled or pass away.
There’s much to plan for in life — college, your wedding, your first child, life insurance — and with more than enough to keep you busy, it’s easy to forget about your will. After all, no one wants to sit around and dwell on their death, but it is perhaps one of the most important decisions you will make in your life.
Trusts are an essential part of most estate plans, even the plans of people with moderate wealth. You need to know the basics of trusts, especially the key terms and concepts of the most widely-used types of trusts.
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