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You’ve Been Named a Successor Trustee – What Do You Need to Know?

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Your dear uncle recently called you to ask you to be the Trustee of his estate.   Before you commit to this role, you and your uncle should have several conversations to fully discuss your responsibilities as his Trustee.  Here is an idea of the information you will need to know: The location of important documents, his trust, will, power of attorney, birth record, military record, … [Read more...] about You’ve Been Named a Successor Trustee – What Do You Need to Know?

How Many Executors Should I Name In My Will?

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  One of the most important things you will have to consider when setting up an estate plan is who will be the executor of your will and the trustee of your trust.  For ease of administration it is often recommended that you name only one person to fill these roles. Some people do not like to name just one person, especially when they have two children and they want both children to act … [Read more...] about How Many Executors Should I Name In My Will?

Possible Reasons Why B.B. King May Have Chosen Who He Did to Manage His Estate

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  The late Riley B. King, who many of us know by his stage name of B.B. King, kept us entertained during his singing years with his legendary blues music. His story is still keeping fans interested, but unfortunately for different reasons in the weeks after his passing. Several of B.B. King’s heirs are pursuing legal action against his longtime business manager with accusations of not letting his … [Read more...] about Possible Reasons Why B.B. King May Have Chosen Who He Did to Manage His Estate

Determining Who Will Serve as Trustee of Your Revocable Living Trust

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  Determining who will serve as trustee of your Revocable Living Trust when you cannot act is an important decision that should be carefully considered.  Many of my clients have established revocable living trusts for various reasons.  Some choose to use a trust because there are significant assets in their estate, while others want to ensure their beneficiaries inheritance is structured in a … [Read more...] about Determining Who Will Serve as Trustee of Your Revocable Living Trust

I Was Named the Trustee of an Estate, Now What?

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  One of your close relatives recently passed away and you found out you were appointed the trustee of the estate.  You are wondering what to do now.  Some items need to be done as required by law and others are necessary to make sure the estate settlement process runs smoothly. I often tell people there are 20 things to do and it seems that they all need to get done as soon as possible.  … [Read more...] about I Was Named the Trustee of an Estate, Now What?

Good Decisions are Important in Creating Your Estate Plan

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 When you create an estate plan, you choose people to make decisions for you, such as agents, guardians, executors, or trustees. Often, people do not give much thought to those decisions, just naming their oldest child or whoever pops into their mind. The choices for these roles are perhaps the most important decisions to make. Good choices can help to ensure your wishes are carried out while bad … [Read more...] about Good Decisions are Important in Creating Your Estate Plan