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Before You Say “Yes” to Being an Executor, Here Are Some Reasons Why You Might Want to Think Twice

When someone asks you to serve as executor of their estate, your first response may be to feel honored. After all, being chosen an executor – the person responsible to make sure the terms of an estate are carried out in accordance with the decedent’s wishes – signifies that you are perceived as trustworthy and … Read more

Heirs Wonder: “When My Parents Die in Debt, Am I On the Hook?”

The statistics are sobering: more and more seniors are entering retirement burdened with debt.  As a result, many of these aging Americans are literally dying broke, with little of their financial lives remaining but unpaid bills. That means a growing number of adult children are suddenly becoming heirs to an estate ladened with debt, and … Read more

Casey Kasem Wasn’t the Only Celebrity Lacking a Strong Estate Plan

Here on the AgingOptions blog we’ve frequently used the sad tale of pop music celebrity Casey Kasem as an example of a wealthy person whose poor estate planning triggered a pathetic end-of-life spectacle. (Click here to read our blog article, published a few years ago, that described the sad affair of Casey Kasem.) By failing … Read more

Caregivers who Handle a Loved One’s Finances Face Higher Stress

An article just published on the aging-related website NextAvenue should be a must-read for anyone who is caring for an aging loved one or family member. It’s called “Caregiving’s Taboo Subject: Coordinating the Finances.” The story, written by NextAvenue’s Money and Work Editor Richard Eisenberg, reveals some surprising findings about how many caregivers are responsible … Read more

Some Surprising Things Millennials Want to Hear from Boomer Parents

Here at AgingOptions, one of the hallmarks of our LifePlanning process involves clear, complete family communication. Over the years we have dealt with many difficult situations in which Mom and Dad never sat down with their adult kids to go over their retirement plan and explain their wishes and preferences as they age. This lack … Read more

Do's and Don't After Being Appointed as a Trustee

Whether it’s an honor or a burden (or both), you have been appointed trustee of a trust. What responsibilities have been thrust upon you? How can you successfully carry them out? Here are nine do’s and one don’t to get you started: Do read the trust document. It sets out the rules under which you … Read more

A Brief Overview of a Trustee's Duties

A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a “trustee,” holds legal title to property for another person, called a “beneficiary.” If you have been appointed the trustee of a trust, this is a strong vote of confidence in your judgment and … Read more

Executor of an Estate

Being the executor of an estate is not a task to take lightly. An executor is the person responsible for managing the administration of a deceased individual’s estate. Although the time and effort involved will vary with the size of the estate, even if you are the executor of a small estate you will have … Read more

Payments for the Executor

My father passed away in PA, my brother is currently the executor. He is claiming the executor fee is 10% and wants to take 10% from the inheritance.  There is no documentation.  Is this legitimate and what can the rest of us do? Unless the will spells out that he will be paid, he does … Read more

The Probate Process: What to Do Following a Death ?

The emotional trauma brought on by the death of a close family member often is accompanied by bewilderment about the financial and legal steps the survivors must take. The spouse who passed away may have handled all the couple’s finances. Or perhaps a child must begin taking care of administering an estate about which he … Read more

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