Testators often draft wills with the expectation that their final wishes will be carried out as per their instructions when they die. Things don't always go according to plans, though. Wills can be challenged or invalidated based on their contents and the laws in the jurisdiction where the testator last resided.
When you're in charge of handling someone else's estate, the list of tasks you have to manage can seem endless. One of those tasks involves canceling the deceased's credit cards, automatic payments, subscriptions and other reoccuring charges.
What's considered proper etiquette when it comes to discussing death and inheritance?
One of the hardest things about drafting an estate plan isn't facing your own mortality -- it's picking the executor.
Knowing how to talk to your children about their inheritance is tough -- you want to address the issues you see ahead but you also don't want to create unnecessary drama.
Do you feel pretty comfortable with your end-of-life documents and plans?
Creating an estate plan brings peace of mind as well as a sense of accomplishment. While there are many tasks involved in estate planning, one of the most important is selecting the right estate executor. This process calls for careful consideration and an attorney with experience in estate administration can provide guidance on your choice of executor.
Many North Carolina residents assume that estate administration is automatic following their death, but we want to advise our readers that estate planning comes first. In other words, you must have certain documentation in place before your estate administration can proceed as you wish it to.
Do you think high-value items are most likely to cause conflict between heirs? Maybe you assume people would fight over the family fortune, especially if life-changing money and assets are involved.
Do you think that undue influence caused a parent to create a will or estate plan that didn't actually go along with what he or she would have wanted? If so, one thing to carefully consider are the medical records for that parent. They can strongly support your case.