When an individual passes away, their assets must be distributed to their named heirs or beneficiaries. The beneficiaries may be designated as a co-owner or a beneficiary, or the assets will pass to the estate to be...more
Assets with significant monetary value like real estate, stocks, and retirement accounts are the key points most people consider when creating an estate plan. But what about your possessions?...more
Your family’s vacation home is more than just a property. It is where your family has created memories to cherish for generations.
Deciding how to pass down such a meaningful asset can be an emotional decision, but it...more
10/7/2024
/ Beneficiaries ,
Capital Gains Tax ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
Inheritance ,
Property Ownership ,
Real Estate Transfers ,
Tax Planning ,
Transfer of Assets ,
Trusts ,
Vacation Homes ,
Wills
In the last alert, we reviewed the responsibilities of an executor. In this next introductory review, we will discuss the role of a trustee.
Before we define the role of a trustee, we must explain the definition of a...more