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executor

Your Worst Nightmare…… A Bad Executor

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Picking an executor is a critical part of any sophisticated or even simple and effective estate plan. Having the wrong executor or someone that does not fully understand your wishes can wreak havoc on your estate’s administration and more importantly on the execution of your wishes. In fact, other than the decision to create and …

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Estate Administration 101

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For Executors and Maybe Trustees Losing a loved one is hard. But if you’re an executor or trustee hopefully this step-by-step guide to Estate Administration will ease the burden of knowing the business of what to do when a close family member or friend dies. Whether or not your loved one has a will or …

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Amend Your Estate Planning After Divorce

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If you are going through or have recently completed a divorce proceeding, you should reassess your will, trusts, beneficiary designations, power of attorney, life insurance, medical power of attorney and living will. It is likely that all of these documents will need to be changed to insure that the proper beneficiaries, executors, trustees and guardians …

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Will Your Estate Owe Federal Estate Taxes?

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Many of us are wondering whether or not our Executors, Administrators, beneficiaries or Trustees will have to pay estate taxes at the time of our death. I came across an excellent article in Smart Money that will help you answer the question, Will My Estate Owe Estate Taxes? This should help you get a …

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Beneficiary Designation Disaster

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One of the most frequently neglected parts of the estate planning process is the proper use of beneficiary designations on life insurance, IRA’s, 401k’s, annuities and other similar assets. Failure to properly prepare and update a beneficiary designation can significantly change the disposition of assets someone intends to be carried out by his or her …

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How long does probate take?

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The length of the probate process in Pennsylvania (PA) or other states varies greatly from estate to estate. The determining factors include the assets involved in the estate, the experience of the Executor/Administrator and counsel and the ease in dealing with the beneficiaries. Contrary to common belief, the process is rarely impacted by the actual …

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What is probate?

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Probate is the court oversight of the estate administration process after a person passes away. Only certain assets are considered probate in nature. Probate assets typically are those owned by the decedent in the decedent’s individual name without a beneficiary designated. The Executor, where there is a will, or Administrator, where there is no will, …

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