What Are the Duties of a Conservator?

On May 31, 2015

In a conservatorship, the court appoints a conservator to manage and protect the personal and financial affairs of a protected person, whose individual rights are, consequently, taken away. This means that conservators have some important responsibilities, which can be as limited or broad as the court sees fit to appoint. In general, however, there will be some common duties that most conservators have, and understanding these responsibilities can be key to: Successfully carrying out the conservatorship Avoiding allegations of breach…
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5 Tips for Agents of Financial Powers of Attorney

On May 25, 2015

Agents or “attorneys in fact” are people who have been designated by another individual (i.e., the principal) via a financial power of attorney to manage the principal’s finances. While stepping into the role of agent for someone else is completely voluntary, when people do agree to take on this role, they accept certain legal responsibilities. Here are some helpful tips that can assist agents of financial powers of attorney in successfully fulfilling their important duties. Helpful Tips for Agents Tip…
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Should I Agree to Be the Executor of a Will or Estate?

On May 20, 2015

When a loved one dies, you may find out that he has named you as the executor of his will. While this may certainly be an honor, as your loved one clearly trusted you to wrap up his final affairs, it is also an important decision to make because being an executor means that: You will become a fiduciary. You will have some important responsibilities to fulfill. You may even be taking on some personal liability in stepping into the…
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Where Should I Keep My Will?

On May 15, 2015

After creating a will, one of the next important decisions you will make is where to store that will. The reason this is so important is that, if your personal representative or beneficiaries cannot locate the original copy of your will in the future, it can create significant (and unnecessary) challenges for them, costing them both financially and emotionally. Good Places to Store a Will When choosing a place to store your will, you will want to keep it somewhere…
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When Should I Update My Will?

On May 10, 2015

Once you have a will in place, updating it periodically can be important to ensuring that your will reflects your current wishes regarding your estate. While you can revisit your will every so often, it’s also important to update it when certain circumstances arise. Below is an overview of when it’s generally a good idea to update a will. Here’s When You Should Update Your Will When state laws change – State laws regarding wills can change and be updated,…
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Joint Tenancy & Probate FAQs (Pt. 3)

On May 5, 2015

Here’s the conclusion to our blog series Joint Tenancy & Probate FAQs. Joint Tenancy & Probate: More Important Info Q – What are the advantages of joint tenancy in probate? A – When it comes to probate, one of the single biggest advantages of jointly owning property is that the surviving tenants will NOT have to go through probate in order to have the title (or deed/ownership rights) transferred to them. Bypassing probate for significant property like homes, real estate…
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