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Trusts were once thought of as something that only the very wealthy need have -- people of more modest means made do with ordinary wills to pass what they had on to their heirs.However, trusts are increasingly becoming the modern way to pass money on to the next...
The right to exploit a piece of property's natural resources are often referred to as its "mineral rights," and it exists as a distinct asset that's independent of the surface land itself -- which means that they can be bought and sold independently of the surface...
One of the jobs of the administrator or executor of an estate is to settle out the debts of the deceased -- that can get very complicated if the deceased died while embroiled in some sort of conflict or died as the result of injuries in an accident that he or she...
What's the biggest mistake people make when dealing with their estate plans?Not having a plan at all. It doesn't matter if you are young or old, comfortably well-off or living paycheck to paycheck, everyone has a few things that they should address:1. Get a disability...
If you're the executor of an estate, an already complicated process can become even more complicated when one of the heirs listed in the deceased's will dies before he or she can collect the inheritance.At that point, two different things may be possible: 1. The...
The natural inclination when dealing with family money is to put a member of the family in charge of it.However, putting a family member in charge of a trust could be a recipe for disaster. Friendship and family bonds can often become strained once significant amounts...
Most people think that they'd be lucky to be remembered in someone's will -- but sometimes a bequest turns out to be more of a burden than a blessing.There are some situations that should make you think twice about accepting an inheritance: 1. You can't afford it....
In a previous post, we discussed the emerging struggle for control of Prince's estate following the famed musician's sudden death and the discovery that he'd died intestate, without a will.Now, a Minnesota judge has finally added some clarity to the issue by naming...
Do you have a good reason to disinherit someone in your will? If you do, you know that the would-be-heir may decide to contest the will in court. Experts say that wills are actually contested far more frequently than most people suspect -- yet they also say that as...
Trustees have an important duty to uphold -- and not everyone who is named as a trustee is capable of handling the responsibility.What can you do if you're the beneficiary of a trust and you no longer have faith in the trustee's abilities? Removing the current trustee...
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