So, your beloved Aunt Mildred has passed, left behind a mystery drawer full of old baubles, three cats with names longer than your resume, and – oh yes – an entire estate. And now you’re wondering: “Can I do this myself? Like, without a lawyer? Or a meltdown?” First of all, what is estate administration? In non-lawyer words, estate administration is what happens when someone dies and leaves … [Read more...] about Can I Do It Myself? Understanding the Risks and Realities of DIY Estate Administration?
Does your family know about your hidden treasures?
Many of our clients have collections they are proud of. Some of those items may not look special, but hold a significant financial value. We once had a client receive a painting from his grandmother with no supporting information. It wasn’t till later in his life, when he was doing his own estate planning, that he learned that the painting was worth upwards of a million dollars. Some people … [Read more...] about Does your family know about your hidden treasures?
The Perfect Gift for your College Bound Freshman? It may not be what you think.
As summer draws to an end, many parents and grandparents are selecting gifts for loved ones headed off to college. While many consider new computers, phones, or tablets, one gift that is overlooked is a Power of Attorney. I know, this probably isn’t the gift they are hoping for, but it may be the gift that they need. Most departing freshman have recently turned 18 years old. For the first … [Read more...] about The Perfect Gift for your College Bound Freshman? It may not be what you think.
Estate Planning Lessons from Naruto (Yes, Really)
You don’t need to be a ninja to learn something from Naruto—one of the most popular anime series in the world. While the show is packed with battles, ancient rivalries, and magic-like “chakra,” it also contains surprisingly useful lessons about estate planning and estate administration. Here’s what Naruto (and a few of its more dramatic characters) can teach you about smart, responsible … [Read more...] about Estate Planning Lessons from Naruto (Yes, Really)
Why Do Heirs Prefer Trusts?
Many individuals desire to have an efficient administration of their possessions and assets when they pass away. We all know there may be complexities in handling an estate after death, but most families want privacy and peace. Creating a trust will help provide your heirs or beneficiaries their inheritance in an effective manner. Trusts provide important protection for you and your loved ones … [Read more...] about Why Do Heirs Prefer Trusts?
When an Estate Administration Takes Longer than Expected
Estate Administration is often seen as a straightforward process: after someone passes away, the personal representative gathers assets, pays off debts, and distributes what’s left to the beneficiaries. However, many estates take far longer to settle than anticipated, leaving everyone involved frustrated. If you’re in charge of administering an estate, it’s important to understand why delays … [Read more...] about When an Estate Administration Takes Longer than Expected
Navigating Maryland Death Certificates
"Navigating Maryland Death Certificates" by Attorney Alex Pagnotta (Audio) When a loved one passes away in Maryland, you may find yourself scrambling for a death certificate. This record of finality provides evidence of an individual's passing and is an important document on many levels. But how do we obtain the death certificate? How quickly can we get it? And who is entitled to apply? These … [Read more...] about Navigating Maryland Death Certificates
Comparing the Roles of Trustees and Personal Representatives
The differences between the role of a trustee and the role of a personal representative can be confusing because the lines often blur. These two roles are often fulfilled by the same person and have similar duties. However, there are also differences that are important to know when one is carrying out either of these roles. First, let us take a look at what exactly both of these roles are. … [Read more...] about Comparing the Roles of Trustees and Personal Representatives
Sorting Household Stuff: A Guide for Personal Representatives
"Sorting Household Stuff: A Guide for Personal Representatives" by Attorney Alex Pagnotta (Audio) At the death of a family member, there is a lot of planning for what happens to property after a person passes away. Having advanced plans will make life easier for loved ones after death and will allow more control over what happens to the decedent’s assets. After death, most estates must go … [Read more...] about Sorting Household Stuff: A Guide for Personal Representatives
Administering Estates During a Pandemic
If you are a Personal Representative or Trustee, the chances are high that you will want to settle the estate and distribute the assets to the beneficiaries as quickly as possible. However, there is just as much work that goes into distributing the assets from your estate after your death as there is in setting up the estate plan. Your loved one has spent a lifetime working hard for the … [Read more...] about Administering Estates During a Pandemic
