Category: Executor
“The tragic recent death of Tony Hsieh, the 46-year-old former CEO of Zappos, reminds us of the importance of estate planning.” Hsieh, former CEO of Zappos, left behind an estate worth an estimated $840 million and no estate plan, reports Forbes in a recent article titled “Lessons From The Rich And Famous: Why Estate Planning […]
“If you pass away without a will, a state court generally decides who gets your assets and, if you have children, who will care for them.” Former Zappos CEO Tony Hsieh, who built the giant online retailer Zappos based on “delivering happiness,” died at age 46 from complications of smoke inhalation from a house fire. […]
“You must now make sure that your loved ones have access to your digital assets should you die.” Did you ever wonder what happens to old emails, videos, or photos when people die? Some family stories become headlines when families battle with big tech firms to get their loved one’s photos or business records. Today, […]
“Is it better to transfer the title of the home to us, or to leave it as it is given her age and go through probate?” For a family whose 91-year-old mother lives in her home, has a will and has appointed two sisters as Power of Attorney and executors of her estate, the question […]
“After a loved one passes, one of the biggest hurdles families face is passing wealth onto the next generation. Unfortunately, family dynamics can spur conflict and infighting among descendants.” More than two-thirds of all advisors surveyed by Key Private Bank said the hardest part of estate planning is navigating family dynamics, according to a 2019 […]
“A trustee is a manager of assets in a trust. The grantor creates the trust and appoints the trustee. A trustee has a ‘fiduciary duty’ to serve the grantor and not benefit personally.” Before accepting the role of a trustee, it is important to have a thorough understanding of what you will need to do […]
“When dealing with the emotional pain of the loss of a loved one, family members also have to address daunting administrative tasks.” For most families, the process of estate administration or the probate of a will starts weeks after the death of a loved one. However, before that time, there are certain steps that need […]
“Personal property is a unique category of asset. Even in the simplest after-death distribution, personal property can become a hindrance to final distribution. There are a couple of reasons why.” Creating and probating a last will and testament is rarely a simple task, but one of the most challenging aspects is the distribution of personal […]
“When do you need your estate plan to ‘go to work’ for you? While you may think the right answer is ‘after I die,’ the actual answer is ‘if I lose the ability to manage my own affairs.’” There are two different types of advance directives, and they have very different purposes, as explained in […]
“Attorney-client privilege requires that attorneys keep confidential and refrain from sharing all secrets and other confidences of clients.” One of the hardest parts of an estate planning attorney’s jobs is managing the death of a client. Estate planning attorneys are highly skilled at creating plans, while clients are living and at administering the plans after […]
