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It doesn’t matter how wealthy you are, everyone should have an estate plan in place. Estate Planning involves creating a strategy so that your financial goals and wishes are met after you die. It is important to create a plan so that your property is distributed according to your wishes. There are several documents that are essential to a good estate plan. They are: A will, a Power of Attorney and an Advanced Medical Directive.
Carl Knapp will take the time to discuss your goals and work with you to create a plan to help you achieve your goals.
Need a Will, a Trust, a Power of Attorney or other estate planning document? We can help. Not sure? We can assist you in determining your needs. We won't sell you a complicated, expensive estate plan if you don't need it. Sometimes simple is better. Call us to find out.
If a loved one has passed away and you have been appointed as executor of their estate, you are responsible to take the necessary steps to settle their estate.
This often includes:
probating their will (filing it with the Courthouse)
putting together an inventory of the assets and liabilities of the estate
distributing property in accordance with the terms of the will
notifying all creditors of the decedent and paying any outstanding debts
preparing and filing income and inheritance tax returns and local, state or federal taxes owed by the estate
As an Executor or Administrator of an estate, you are responsible to properly manage the affairs and assets of the estate. Failure to do so can make you potentially liable for breach of your fiduciary duty. Therefore it is critical to have someone that can help you navigate the rules and regulations that govern estate administration. Attorney Carl Knapp, can assist you with all aspects of the process.