If you haven’t done your estate plan yet, you might assume you don’t need it or that the courts will handle the details of your smaller estate. But that default approach leaves out your personal goals. Most people put off the process of defining their estate plan which can prove especially problematic for their heirs in the future. An estate plan that doesn't appropriately reflect your intentions is no plan at all Read More
What Are the Most Common Mistakes an Executor Can Make?
If you have recently been named the executor of a loved one's estate, you have serious legal responsibilities to wrap up this person's affairs, distribute the assets of the estate and pay for any income and estate taxes in accordance with relevant laws. Far too often, executors who mean well, and even those who don't can make mistakes that could expose the entire estate to litigation or even higher taxes. Some of Read More
How To Start an Estate Planning Conversation with a Relative Who’s Uncomfortable with It
Estate planning can serve many purposes and can assist your loved one and your family members in big ways, but only when it's been completed. Estate planning can assist with the transfer of property to minimize your tax liability of assets in the event of your passing. It can be very difficult as an adult child to bring up this concept with your parents and one of the easiest ways to do this is to discuss the Read More
Should I Make My Power of Attorney Agent Joint Owner of My Bank Account?
One of the most common tasks handled by a power of attorney agent is the paying of bills and the writing of checks from a bank account. To do this, you'll need to have your agent's name added to your account, which is when you might mistakenly put this person on your account as a joint owner. Adding a name to an account and giving someone joint owner responsibilities with full authority to use the account as their Read More
How Do Assets in Multiple States Affect Your Estate Planning?
Geographic borders might seem like not that big of a deal when you can easily drive or fly from one state to another, but when it comes to the distribution of your assets after you pass away, geographic borders matter. If you have a loved one who owned property in more than one state, probate administration in each state might be required which is extremely important if you are appointed as the personal Read More
What’s Involved in Settling a New Hampshire Estate?
Estates are settled in very similar manners throughout all different states but there are specific details associated with New Hampshire, such as which forms need to be filled out and deadlines to be followed. If you are involved in a New Hampshire estate or have recently been informed that you will be appointed in such a role, it's important to educate yourself about these expectations so that you are clear about Read More
What Is the Number One Threat to Estate Planning in 2021?
Many people were aware of the dangers presented by family conflict as it relates to estate planning. In fact, in 2019 this was recorded as the number one threat from the perception of Americans who were concerned about how conflict could derail their estate planning intentions. In 2021, however, a new study shows that priorities have shifted and perceived threats from the eyes of Americans have changed. Family Read More
What Does It Mean to Say an Account Is “Transfer on Death?”
A transfer on death designation allows beneficiaries to receive assets at the time an individual passes away rather than waiting for the entire estate to go through probate. This also lets the security or account holder specify the specific percentage of assets that every beneficiary will receive. This is very helpful for an executor to distribute a person's assets after the creator passes away. Transfer on death Read More
What Does a New Hampshire Executor Really Do?
Your legal personal representative or executor, appointed either by you through the creation of your will or through the court, is responsible for finding and then overseeing all of the assets inside your estate. This includes many different important steps, meaning that being an executor is a big responsibility. Some of the assets that need to be assessed during probate include retirement accounts, stocks and Read More
What You Need to Know About Adult Children Taking Over Your Finances
Whether you’re caring for an aging parent and have questions about what it means to be their power of attorney or you’re looking to sign a power of attorney to name one of your children as your agent, it’s important to be clear about how a power of attorney works in New Hampshire. A durable power of attorney makes it possible for someone else, known as your agent, to take on the role of managing your finances. Read More
