When a person is named as executor of a will, there are many executor duties that have to be fulfilled during the probate process. It is not a small matter to agree to be an executor of a will because of the extensive obligations that are imposed upon you. Not only do you have many [ ] The post List of Executor Duties appeared first on Nirenstein, Horowitz & Associates P.C..
Connecticut probate is a process by which a person s assets will be transferred following his or her death. The process is required in most situations, but it can sometimes be avoided through careful estate planning. As you are making your plans for what will happen after your death, you need to decide whether or not [ ] The post Why Would You Want to Avoid Connecticut Probate? appeared first on Nirenstein, Horowitz & Associates P.C..
A trustee is a person or entity who administers a trust. If you utilize a revocable living trust as your assets transfer vehicle, you can act as the trustee while you are alive and well. You can also serve as the beneficiary, so you could receive monetary distributions from the trust throughout your life. This arrangement is comforting to many people, because you do not surrender control of assets that you convey into a revocable trust. You can also revoke the trust entirely if you ever decide that you want to call the whole thing off and take back direct personal control of the assets that you conveyed into the revocable trust. You would be creating the trust as an estate planning tool, so you have to account for the things that will take place after you pass away. When you establish the trust declaration, you name a successor trustee to handle the business of the trust after you pass away. Successor beneficiaries would also be named in this document. A revocable living trust can pro