Being appointed an executor of an estate can be a significant responsibility. When the testator dies, you will manage their estate and distribute it to heirs. But when will you assume your duties? Here is what you should know: Immediately after the testator dies Most...
Year: 2023
How fast can you get through probate?
With someone dies, their estate will usually have to go through a process called probate. This process is intended to make sure that your final debts are paid (if possible) and make sure that your remaining assets are properly distributed. Probate can take several...
How to communicate with an estate’s heirs
After a testator's death, your role as their executor will begin -- and one of your primary jobs is making sure that the probate process is properly opened and completed. While going through the probate procedures, you will often find it necessary to communicate with...
Can a family business survive sibling disputes?
Family businesses are a cornerstone of American society, with half the nation’s GDP generated by small family-owned businesses. Customers may like the familial atmosphere of seeing two or three generations working together or the dynamic of sisters and brothers...
A personal guarantee may help with business debt collection
Every reputable business's lifeblood involves contracts. They stipulate terms for sales and services provided, price and dates for suppliers, and should include clauses that address foreseeable issues that cause one party not to meet the terms. While it makes good...
Some divorces require litigation
Most divorces are handled through some form of mediation rather than in court, and many family law attorneys will argue against litigation as expensive and time-consuming. This is fine if the split is an amicable one, or the two sides are open to negotiating a fair...
Creditors’ claims are often a part of probate
The probate process settles the decedent's affairs. For families and beneficiaries, this means dividing up assets like money, belongings, investments, and other things of value. Some are surprised that it also involves paying off any outstanding bills owed to...
Businesses often face the risk of contract disputes
No matter how well an owner runs a business and how much due diligence they exercise, contract disputes will occasionally occur. It may involve a customer, a vendor, an employee or a partner. They may accuse the owner or business of breach of contract and even file a...
Consent is a key issue in adopting
Parental consent is a crucial hurdle for parents wishing to adopt. It refers to the agreement between the adoptive and biological parents, agency or person acting in place of the parent. Giving consent means relinquishing a child for adoption and release. The...
Not happy with how probate was handled?
Executors typically try to honor the wishes of the decedent. The job involves closing the estate and distributing assets to beneficiaries and heirs. Still, someone may dispute or appeal the plan or a judge’s ruling concerning the will and estate plan. Common grounds...