Learn tips that every Executor should know when they are down in the trenches of estate administration!
The Role of Executor - Commonly Asked Questions
As an Executor, you play a crucial role in managing the affairs of a deceased individual's estate. From handling financial matters to distributing assets, the responsibilities can be complex and overwhelming. In this blog, we aim to provide clarity and guidance on the duties, challenges, and best practices associated with this important role. Whether you are currently serving as an Executor or are preparing for the future, our goal is to equip you with the knowledge and resources needed to navigate this process with confidence.
Carley’s Corner – The Estate of Amy Winehouse
Amy Winehouse was a British singer-songwriter known for her soulful voice and raw, emotional lyrics. Winehouse's unique blend of jazz, R&B, and soul music captivated audiences worldwide, with her untimely passing in 2011 leaving a void in the music industry. Beyond her musical legacy, the handling of her estate has been a topic of discussion. In this blog, we delve into the intricacies of Amy Winehouse's estate and the lessons that can be learned.
Estate Administration Commonly Asked Questions
Whether you're navigating the intricacies of probate, dealing with beneficiaries, or simply seeking guidance on how to handle a loved one's estate, we're here to provide clarity and support. From understanding the role of an executor to unraveling the legal jargon often associated with estate planning, our goal is to address the most commonly asked questions and empower you with the knowledge needed to navigate this important process with confidence
Carley’s Corner - The Estate of Kobe Bryant
Today, we focus on a poignant example that serves as a reminder of the critical nature of estate planning: the estate of the late basketball legend, Kobe Bryant. While his untimely passing shocked the world, it also brought to light a significant oversight in his estate planning.
ABC’s of Probate
Let’s delve into the intricate world of Probate and shed some light on the importance of understanding its various elements. By understanding the basics of Probate, you become empowered with the knowledge needed to navigate this procedure with confidence and clarity. So, let's embark on this journey together and unravel some of the terminology used throughout the process of Probate.
Understanding Probate
Probate is an essential legal process that occurs after someone passes away, and understanding the Probate process is crucial for executors and beneficiaries alike.
The Importance of a Power of Attorneys’ Mental Health
While acting as a POA, it is crucial to recognize the impact that it can have on your own mental health. In this blog, we will explore the importance of taking care of your mental well-being while acting as a power of attorney and provide some practical tips to help maintain a healthy balance.
The Global Colours of Mourning
From joyous festivals to solemn ceremonies, colors play a significant role in expressing emotions, traditions, and cultural symbolism during these periods of mourning. Join us as we delve into the kaleidoscope of hues that grace celebrations of life around the world, unraveling the meanings behind each color and discovering the rich tapestry of global traditions.
The ABC’s of Estate Administration
Whether you are an executor, a beneficiary, or simply someone interested in the subject, grasping the terminology associated with estate administration is essential for ensuring success. So, let's embark on this journey together and unravel the terminology of estate administration.
How To Plan for Your Assets
We recently published a blog about how to plan for your liabilities when it comes to your estate planning – now let us talk about how you can plan for your assets and ensure that they are accounted for and protected when it comes time to administer your estate. Let’s look further into a few ways that you can carefully plan for your assets.
Carley’s Corner – The Casey Kasem Estate
Discover the untold story of Casey Kasem, the iconic American DJ, actor, and voice behind the beloved Shaggy from Scooby-Doo. While he left an indelible mark on the entertainment world, his final days were marred by family disputes, legal battles, and even the shocking 'kidnapping' of his own body
The Importance of Power of Attorney
POA’s (Power of Attorney) documents are crucial to a well-rounded estate plan. Many people are quick to get their Wills drafted yet ignore the POA documents and are unaware of just how important they truly are! Let’s take a deeper look into what a Power of Attorney is, and why it’s so essential for everyone over the age of 18 to have.
Let's Talk About Death & Estate Planning
The topic of death and estate planning is never an easy conversation to initiate; however, it’s such an important conversation to be had. It can feel awkward and overwhelming to try to steer the conversation on the right path. Let’s look at some ways you can start the end-of-life conversation and turn the uncomfortable topic into something productive.
Carley’s Corner – Sonny Bono’s Estate Mishap
When Sonny Bono died, his estate was worth approximately two million dollars. He had re-married since his divorce with Cher, and left behind his wife Mary, and his three children Chaz, Chesare, and Christy. To make an already devastating situation more complicated, Sonny died without a Will and with no estate plan in place.
Should I Accept or Renounce the Role of Executor?
The role of Executor is not a simple job to say the least. Society has instilled it in our brains that being named as the Executor of a loved one’s estate is an absolute honor, however there is much more involved than one may think. This begs the question, “But what if I don’t want to be the Executor?!”
What is Estate Administration Tax?
For an individual acting as an Executor for the first time, the concept of Estate Administration Tax can be a confusing concept to navigate. Let’s break down some of the most common questions surrounding EAT.
Carley’s Corner – Prince’s Complicated Estate
Prince passed away on April 21st, 2016 at the age of 57. He left behind many assets, many relatives, and no Will or estate plan in place. Prince’s estate was valued at a whopping $156.4 million! Since he had passed without a Will, his estate was left in the hands of the Minnesota probate court!
Identity Theft and Obituaries
Obituaries serve as a heartfelt tribute to a deceased loved one. However, there has been a rise in identity theft due to how much detail some obituaries provide to the public. Scammers can then use these stolen identities to create false documents, open bank accounts, borrow money, or worse – all from the information we voluntarily share.
How to Plan for Your Liabilities
While we are quick to discuss our assets when it comes to our estate planning, it’s crucial that we also plan for our liabilities. Your future executor will be unable to administer your estate before paying off your debts and liabilities, and if they don’t know where to begin it can cause both lengthy and costly delays. Let’s look further into a few ways that you can properly plan for your debts.
Carley’s Corner – Audrey Hepburn’s Estate
Estates can be complicated, and when family dynamics come into play, they can get even more complex! See what caused a 24-year-long family feud over the contents of Audrey Hepburn’s Will.