August 2011 Monthly Archive
August 30, 2011
Have you ever inherited anything from a deceased relative? If so, you know it's a bittersweet experience. Inheritance gifts hold many sentiments. They can alter your life if consisting of large sums of money or valuable property such as real estate or jewels.
Inherited gifts can be a blessing or a curse. As a probate liquidator, I've watched many families engage in inheritance wars over a deceased relative's belongings. I've also seen the disappointment on people's faces when they discover everything their relative owned has to be sold to pay off outstanding debts or past due taxes.
August 22, 2011 | Comments: 2
If you haven't taken time to write a Will, what's holding you back? Do you think you don't need one or that it's too costly? Do you think you're too young or that you don't own anything of value so what's the point? The point is everyone aged 18 and up needs a Will if for no other reason than to provide directives to loved ones.
Taking time to write a Will is by far the best thing you can leave behind. Doing so speeds up the probate process and ensures property and cash is transferred to the people you want to have it.
There are many ways to write a last will and testament. Some people download templates from the Internet and fill in the blanks. Others purchase do it yourself Will kits or utilize online services such as LegalZoom. Most prefer working with an estate planning service or probate lawyer.
August 16, 2011
Estate agents are people assigned to oversee estate settlement procedures when a person dies. In most cases, people are appointed through a last will and testament, but might be confirmed through probate court to act on behalf of the estate.
State laws require estate agents to be of legal age and prohibit anyone with a criminal record from engaging in estate settlement procedures. The person chosen for this position should be capable of making sound decisions on behalf of the estate and rightful heirs. They should be good with finances and capable of providing detailed accounting reports, as well as being proficient with recordkeeping.
August 09, 2011
If you're thinking about writing a Will you're making a smart decision. A lot of people put off this task until it's too late and end up making their family deal with a lot of bureaucratic red tape. It takes very little time to put affairs in order and is worth every minute knowing loved ones will know exactly what to do.
There are many ways to go about writing a Will. If you don't own much valuable property a do it yourself Will kit might be all you need. If you own real estate or titled property, you'll want to setup beneficiaries so property can be easily transferred upon death.
August 02, 2011
Business banking is essential for every company regardless of size. It is essential to maintain separate accounts for personal and business transactions in order to deduct allowable expenses on tax returns. Combining accounts can be harmful and potentially cause business owners to lose out on certain tax deductions.
A variety of business banking options exists. Companies can select from basic business checking accounts to online banking. Most banks offer options to tie-in accounts to accounting software such as QuickBooks or engage in direct deposit payroll.