Categories for Estate Planning

What Is The Difference Between A Trustee And A Beneficiary?

February 21, 2023

The beneficiaries of a trust are people or entities that the grantor (the person who created the trust) wants to support. The grantor usually indicates what the beneficiaries are supposed to receive and when, in a written document. The trustee manages the assets of the trust until the trust is distributed to the beneficiaries.  The Beneficiaries Are The Ones Due To Receive The Trust Assets  Trustees are supposed to treat trust beneficiaries fairly and take actions that benefit the Trust rather than themselves. Despite this, some Trustees are guilty of taking Trust assets to themselves or using them for personal... View Article

How To Identify Will Fraud

February 14, 2023

When a person dies, their last will and testament is the document that determines how their estate will be distributed to the people they choose. Occasionally, family members challenge a last will because they suspect it might be fraudulent. Fraudulent wills can be difficult to identify. However, there are a few red flags that can point to potential fraud in an estate plan.  Signing A Will  Signing a will is a vital part of ensuring that your wishes are recorded properly and legally. One of the main ways a will can be fraudulent is through forgery. This involves someone stealing another... View Article

Is It Normal For A Will Administrator To Have Expenses?

December 27, 2022

As someone going through the probate process, you might wonder if it’s normal to deal with an array of expenses. The short answer is yes. Probate can literally cost over $10,000. Fortunately, there’s a way to write off those expenses and spare yourself from obliterating your wallet. Here’s some information about those expenses and how you can deduct them to save yourself some money as executor of the estate: Probate Costs That Accumulate  These are a few of the expenses that come up during the probate process:  Funeral Expenses Funeral expenses are some of the most common estate-related expenses. You... View Article

What Types of Fraud Exist in a Will?

December 20, 2022

You might have to do estate planning for a relative or loved one. If so, you need to know about some fraudulent activities in estate planning processes. Here’s some information about fraud in estate planning and several things you can do to prevent it.  Believe it or not, a lot of fraud happens during various estate planning processes. These are some of the events that can occur if a non-trustworthy person is left to handle the estate: Lying To an Incapacitated Person Lying to someone who is disabled or mentally incompetent is one way some people commit estate fraud. An... View Article

What Can You Include and Not Include in Your Will?

October 17, 2022

A will is a complicated thing. Most people do not think about what they need to add or what they cannot add until it is too late. Knowing what you can add to your will and what should be left out can help you craft one that will be comprehensive and whole. Items To Include in Your Will The first thing that you certainly need to include in your will is a division of assets. This means you need to list off your assets and what you have, including homes, property, items inside your home, vehicles, and money, and then... View Article

Rubén J. Padrón, PA
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