If a loved one died without a will, the court might appoint you as the estate administrator. This person takes charge of the deceased's estate, distributing assets and paying creditors as necessary. However, this position as a fiduciary may financially impact you if...
Month: September 2021
What is a trust and why should it be important to me?
As the time approaches that you begin to think about preserving and passing along your assets to the generations coming after you, certain terms like wills, beneficiaries and bequests become quite familiar. One term you might hear mentioned may have an uncertain...
Executor responsibilities include settling the deceased’s debts
After death, a Georgia resident's debts become part of his or her estate. As noted by Bankrate.com, the deceased's estate has liability for paying any taxes owed and the balances left on consumer debts such as credit cards, car loans and mortgages. An estate may also...
Is it time to update your estate plan?
Creating an estate plan is a huge step you can take toward managing your affairs later in life and after your death. Of course, creating the estate plan is only one part of the entire process, even if some mistakenly believe it to serve as the end goal. You must keep...