We have had many questions about the role of a Personal Representative (PR) when performing a Last Will and Testament. A PR is appointed to execute and administer a deceased person’s Last Will and Testament and assumes a legal fiduciary duty to the estate’s beneficiaries, meaning they must act in the beneficiaries’ best interests. For […]
Forty-six-year-old Tony Hsieh was the CEO of Zappos, the popular online shoe and clothing company that became famous for its ‘no-shipping costs’ service strategy. Tony had a net worth estimated at $840 million and was an extremely bright individual. Unfortunately, he passed away from burn injuries sustained in a house fire in November of last […]
I received a question from a lady regarding her 87-year-old mother-in-law asking if she qualified for a property tax exemption? OUCH! Her mother-in-law has missed the opportunity to save perhaps hundreds or thousands of dollars over the past twenty-two years. Here’s an excerpt taken directly from the State of Alabama web site: I AM OVER […]
The good news is you have a will that outlines what happens to your stuff at your death. One question that people often overlook is, “Do I need a trust” for a portion or all my assets? Most wills don’t include trusts and leave assets outright to a spouse or children. But in many cases, […]
So far, in this series, we’ve covered Investments, Taxes, and Insurance. Now let’s look at estate planning with an emphasis on digital assets. Most people understand the importance of having a basic estate plan in place. Unfortunately, at least one-third of American adults don’t have one. The reasons vary, but the most dominant is procrastination. […]