Tuesday, February 7, 2023
Home Estate Planning Trustees and Executors

Trustees and Executors

is trustee personally liable?

Can a Trustee Be Held Personally Liable?

If you are ever appointed a trustee, you will have a fiduciary duty to act on behalf of the beneficiaries. If you breach that duty, you may find yourself in court. Being a trustee is not...
adult children as trustees

Is it a Good Idea to Name Co-Executors or Co-Personal Reps?

When drafting a will, you need to decide who'll be the executor or personal representative handling your estate when you die. Individuals who serve in these roles are fiduciaries with a duty to properly administer your...
handling creditors of deceased

Can Creditors Go After Non-Probate Assets?

When someone dies, one of the first questions that close relatives usually have is whether they are personally responsible to pay the credit card bills of the decedent. They may even start getting telephone calls from creditors...
handling taxes after someone dies

How to Handle Someone’s Taxes After They Die

The death of a loved one is always difficult but it can be even more challenging if you are the one who must handle all the resulting tax responsibilities. There are a couple different ways you...
questions about serving as executor

Should You Serve as Executor?

When someone asks you to serve as executor of his or her estate, it is generally meant as a compliment that he or she trusts you to serve in this important role. But don't simply...
professional trustee

When Should You Select a Professional Trustee?

One of the most vital decisions to ensure preserved legacy and proper estate execution is electing the right professional or family trustee for investing and properly distributing your estate. Desirable characteristics of a trustee include being...

How to Wrap Up an Estate

If you're an executor or personal representative of an estate — or even an heir — eventually you want closure on the estate. Sometimes, estate proceedings continue to be open for years with no end...