In estate planning, the executor, or personal representative, is responsible for managing the administration of the estate after an individual passes away. An executor may be a person or an institution. Their duties include applying for probate and ensuring that the...
When someone passes away, the probate process ensures that the deceased’s estate fulfills its debts and that the heirs receive their assets. The deceased’s will dictates how to settle and distribute their assets and debts. (If no will exists, state...
Four in 10 people believe they do not have enough assets to make a will, according to Caring.com’s 2024 Wills and Estate Planning Study, which surveyed more than 2,400 individuals. This statistic reflects a common misconception about estate planning: that it is...
A power of attorney designates a trusted individual to make decisions or conduct transactions on your behalf. They could be related to personal finances, business operations, or medical needs and used for a single immediate purpose or an ongoing situation. This may...
Social Security Disability Insurance (SSDI) provides financial assistance to workers who become disabled and their families. The Center on Budget and Policy Priorities reports that 7.4 million Americans received Social Security disability benefits in 2023. Unlike...
