When a family member or friend asked you to be the executor of their estate, you didn’t agree to it for the money. However, being an executor is a job – sometimes a very time-consuming, challenging one. That’s why the law provides for executor compensation. Executors...
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5 signs of financial elder abuse
Financial elder abuse is a serious problem that has to be addressed as soon as you see the red flags. This kind of abuse can drain an elderly person’s bank account and leave them financially destitute if it goes on for long enough. It can also result in their estate...
What is a durable power of attorney?
A durable power of attorney is used to authorize a person of your choice to handle your financial decisions if you are suddenly rendered incapable of making those decisions for yourself. The power of attorney can be enacted immediately, or at a time when you are no...
Is a team member jeopardizing your startup?
You’ve just launched your new business, so you’re learning as you move along. Your product is great, you have a solid customer base and the prospective numbers are looking good. Unfortunately, there’s one thing that seems to be getting in the way. One of your...
Do your children want the family business?
As a business owner, it has always been your hope that you could pass the business on to one of your children. You view it as an asset for them, but you also view it as a sort of legacy. You've created this business for them and you want them to benefit from it....
Where to store your will for safekeeping
Have you done the responsible thing as an adult and created a will? If so, that’s a great first step in ensuring that your wishes will be carried out once you pass. However, along with creating a will, you also must figure out where to keep it. After all, you need to...
The right business partner needs to be a bit different than you
It may feel comfortable to work with someone who is very similar to you. When you're looking for a business partner, you might seek someone out that has similar skills and a similar vision for the company. On one hand, it is important that you get along with this...
Why do courts invalidate wills?
If you already have a will in place, congratulations! However, if you do not, it is important that you create one, ASAP. A will is an important estate planning document that outlines how you wish to have your estate distributed when you pass on. Given its...
When the estate executor takes advantage of their position
Being in charge of someone's estate before the assets are handed over to the heirs of the deceased is a position of trust that no executor should abuse. They may be in charge of a lot of assets -- including cash and investments. But what if the executor goes rogue and...
What you should know about Texas transfer on death deeds
Your most valuable assets will usually be your biggest priority when planning your estate. It's likely that you don't own anything worth more than your home. Real estate is quite valuable, making it an important asset to address while planning your estate. Some people...
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