Tags
Avoid Probate, Common Estates, Disputes, estate, Estate Administration, Estate Planning, Estate Property, Executor, Family Relationships, Final Arrangements, Lawsuits, probate, Probate Avoidance, Relatives, testator, Testator-Executor Relationship
Essentially, an amicable and collaborative testator-executor relationship is an important element of an estate plan. In many common estates, the testator-executor relationship is simple: the testator creates the estate plan, and within that plan, appoints an executor to execute it. Generally, in this realm, testators will create their estate plans and expect the chosen executor to execute it without question. This type of planning, however, puts executors in a bind if the estate plan proves to be disastrous. Additionally, many named executors fail to understand that they can refuse to serve as executor as mentioned in the article, Can I Opt-Out from Serving as Executor? As a result, named executors feel they have no recourse and remain exposed to a possible turbulent estate administration. To protect themselves, named executors should approach their testators and forge a collaborative relationship before accepting an offer to serve.
Continue reading
Avoiding probate as a strategy and fulfilling your estate obligations can work together if planned properly. Although avoiding probate is a preferred estate planning strategy, the strategy will fail if your plan overlooks taxes and debts. Therefore, while planning, you must account for all taxes and debts of the estate or unintended consequences may result.
In estate planning, utilizing the life estate agreement is rare, but can be effective in transferring property. Accordingly, the key reasons why people implement the life estate in their estate plans are as follows: 
After choosing an agent for your Durable Power of Attorney for Finances, you must also consider the type. There are two types of Durable Powers of Attorney for Finances to consider:
Choosing an agent for your Durable Power of Attorney for Finances deserves as much consideration as choosing the right executor. As described in the article