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When Your Children Live in Different States
Today, it is common for parents to have children living in different states. While distance does not prevent a child from serving in an important role, it can create challenges when an emergency occurs. An out-of-state child may be a good choice to manage your finances, as many financial tasks can be handled remotely. However,…
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When a Personal Representative Has Discretion
The personal representative must carry out the directions stated in the testator’s will but there are cases where the personal representative can use discretion. Wills often allow the personal representative to decide when to sell property and to decide whether to convert assets to cash prior to distribution. If the will is unclear, the personal…
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Avoid Probate Issues When Drafting a Will
When creating an estate plan, you should consider implementing tools in your estate plan to minimize issues that may arise if your estate requires probate. Your will may have been written years ago and might not reflect current circumstances. You could have acquired new accounts or property, experienced a birth or death in the family,…
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Responsibilities of the Personal Representative
When creating a will, an important consideration is who to choose to serve as the personal representative (also called an executor) of your estate. The personal representative is responsible for carrying out the testator’s wishes. Their duties include locating and valuing assets of the estate, paying debts, and distributing assets to beneficiaries in accordance with…
Category: Personal Representative
Eckert & Krautkramer, LLC
Protecting Assets, Preserving Dignity, Ensuring Peace of Mind
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