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November 2016 Archives

What does the term "fiduciary" mean in estate planning?

Estate planning discussions contain a lot of terminology, which may be confusing to people unfamiliar with legalese. Before getting started on your question, you first need to know that if you are working with an estate planning attorney, he or she will be glad to answer any questions you have. Anytime you hear confusing terminology like trustees, executors and fiduciaries, you should never be afraid to ask your lawyer what these terms mean.

Don't be afraid to challenge a will if something feels wrong

When a loved one dies, it is often difficult to cope with the circumstances of the death. Most people feel a crippling sense of loss at the beginning and just want to get through the legal issues as quickly as possible. Sometimes, after the initial surge of grief begins to dissipate, it is not uncommon for the bereaved to want a closer look at the estate planning documentation the deceased left behind. This is true for those named as estate administrator and it is true for the deceased's family members as well.

Determining if you are the right choice for estate administration

To Pennsylvania residents without a lot of knowledge about estate administration, it may seem like a simple task. In reality, just the opposite is true. Serving as an estate administrator is nearly always a complicated undertaking. While you may feel honored that someone has placed such trust in you, it is wise to be honest with yourself about your ability to fulfill the role of estate administrator.

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Larmore Scarlett LLP

Larmore Scarlett, LLP
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