When a person passes away with remaining debt, the duty of paying off that obligation falls on the estate executor. If the individual had an estate plan in place, they may have chosen this executor themselves. If not, one would be assigned during probate. The reason...
What does it take to get a personal representative removed?
Many people who are named as personal representative (often known as “executor”) of a loved one or close friend’s estate don’t anticipate just how complicated it can be. Even relatively small estates can present complications – particularly if the deceased’s estate...
How should an executor communicate with beneficiaries?
As an estate’s executor, one of your duties is communicating with beneficiaries. Acting in the best interest of the estate, as your fiduciary role requires, involves being transparent with beneficiaries. When you fail to communicate effectively, they can file a...
Are you feeling the burden of being a loved one’s executor?
Perhaps you felt up to the task when asked by your loved one to act as the executor for your parent, sibling or spouse. But when you actually take on the duties of the job, you may find yourself too mired in grief to complete the necessary tasks. Accepting the role of...
Beneficiary designations take precedence over wills
As a general rule, an estate plan helps govern what happens to specific assets when someone passes away. If a parent has a bank account with a certain amount of funds in it, for example, they could use their estate plan to mandate that the funds be split equally...
3 Indiana probate deadlines you cannot miss as the executor
Losing a loved one is one of life’s hardest moments. You find out that you are their assigned personal representative, which can be overwhelming while you are still grieving. As the executor, you worry whether you can uphold your fiduciary duty to manage your loved...
What spousal rights affect estate administration in Indiana?
When someone in Indiana dies, the surviving spouse has special rights under state law. These rights protect the spouse from getting too little. They can also change how the estate is divided among the heirs. Understanding the elective share Indiana law gives a...
3 reasons to include the entire family in estate administration
Estate administration can be an overwhelming and convoluted process, often taking place during an emotionally challenging time. For this reason, it might be tempting to hand over the entire process to a single executor. However, involving all family members can make...
Can you write an estate plan too soon?
You know what you want to write in an estate plan. Maybe you have had older relatives pass away. You understand that an estate plan can be very helpful in providing guidance for the family and distributing assets. At the same time, maybe you are only in your 20s or...
What happens to your belongings when you pass?
When someone passes away, their belongings go through a legal process called probate. This helps ensure everything is passed down to the right people. While most people think of bank accounts and homes, people sometimes have one-of-a-kind treasures, such as a vintage...
