Diana Rigg left her daughter Rachael Stirling £3 million of her fortune after a “traumatic” time living with her before she died, according to reports.
The first step in getting your affairs in order is to gather up all your important personal, financial and legal information, so you can arrange it in a format that will benefit you now and your loved ones later.
When it comes to owning property in two different states, you may wonder how to manage these in your estate plans.
It’s an important task that is easy to procrastinate. However, here is why you shouldn’t:
You may want to consider some financial issues before walking down the aisle again.
If a loved one asks you to be the executor of their estate, think carefully before you take on this responsibility. While you have the option of declining the request, the person reaching out likely considers you to be responsible and detail oriented. An executor of an estate typically helps file paperwork, close accounts and distribute the assets of the deceased.
If you have a parent over the age of, say, 65, thoughts about their future may have started to creep into your mind. But because end-of-life planning can be emotional and overwhelming, it’s tempting to put these conversations off — and even more pleasing to avoid them altogether. If there’s a lesson to be learned from the pandemic, however, it’s that waiting until the last minute to prepare is seldom a good idea.
There are two main kinds of trusts: revocable and irrevocable.
Like DMX and Prince, many Black Americans have failed to participate in the estate planning process.
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