If you learn that you are selected to be an executor to a loved one's estate, the responsibilities could be overwhelming. After all, the process of legally transferring property and assets from the deceased to heirs or beneficiaries (and even creditors) is not something that people do every day. Also, if there are disputes over who is entitled to receive the property, this can be daunting.
Do I always transfer property through probate?
Expectations of an estate planning and administration executor
Unless a person is well-versed in state laws concerning matters of estate, the whole process of executing documents to plan an estate can be very confusing. Many Illinois residents are vaguely familiar with the estate planning and administration process; yet, within the system there are many terms and duties they do not really understand. Acting as an executor of a will, for instance, is something that often leaves people with many more questions than answers.
Discord between heirs and beneficiaries of Alan Thicke
When a person unexpectedly dies, family members may disagree about inheritance. While not every Illinois resident's estate may be valued as high as that of former TV star Alan Thicke, many may relate to a raging battle that has ensued among his heirs and beneficiaries. Thicke's death brought sorrow to many, including 1980s sitcom fans who enjoyed his shows; his two sons, Robin and Brennan, are apparently worried that Thicke's third wife may try to get more than she is entitled to by inheritance.
Plan ahead to reduce the burden on your loved ones
When you are thinking about your estate, one of the goals that you have is to reduce the burden that falls on your loved ones when you are gone. There are several ways to do this, so think carefully about what you want to do with your estate plan.
Widow of 9/11 victim discusses estate planning and administration
Most Illinois residents who were adults in 2001 remember exactly where they were and what they were doing when a terrorist group launched an attack against the United States on domestic soil. A woman in another state was a young mother of three at the time. She recently recounted her memories of that day and also discussed many lessons she learned in the aftermath of her own husband's death, including certain estate planning and administration strategies.
