Complex Estate Administration Archives

Reverse Mortgages and the Estate – What Executors and Heirs Need to Know

A reverse mortgage can operate for years with little attention from the family. After the borrower dies, however, the loan can become an immediate estate-administration issue. The important starting point is simple: the reverse mortgage company does not automatically own the home. The property remains subject to its title, the estate plan, and applicable state

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Bill Gross’ 10 Rules of Probate Sales

Inheriting a property after the loss of a loved one can be an incredibly emotional and confusing time. While you may be eager to settle the estate and move forward, selling a house in probate is not like a traditional real estate transaction. The court system is heavily involved, and making assumptions can cost your

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Finding the Heirs of an Estate

Executorium.com Article based on an interview with Michael Zwick, CEO & Investigator-in-Chief, Assets international, LLC Where Are the Heirs? What Every Executor Needs to Know About Beneficiary Searches When administering an estate, one of the most unsettling questions an executor can face is: Where are the heirs?Or worse: Are there heirs we don’t even know

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The Beneficiary Refunding Bond and Release via Stark & Stark

Beneficiary Bond | 5-minute read Heir Refunding Bond | Inherited Assets | Bond and Release What is a Refunding Bond and Release? Click HERE for the original article by By Paul W. Norris A refunding bond and release is a legal requirement a beneficiary is presented with before receiving a distribution. This is to ensure that should

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Nevada Counsel Warns Executors: Avoid These Common Probate Mistakes…

Administering an estate is one of the most important and stressful responsibilities someone can take on. Nevada Counsel, LLC is urging newly appointed executors and personal representatives to learn about common probate mistakes before they lead to delays, disputes, or personal liability. “Even well-meaning executors can unintentionally make costly errors,” said Nicole Harvey, attorney and

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Estate Has Guns – What to do?

If the estate has guns – what to do? There are many responsibilities associated with guns. First things first. Safety. Is the gun loaded? Assume it is. Determining if the gun is loaded may exceed an executor’s comfort level. Only an individual experienced with weapons should handle firearms. For the executor discovering firearms, it would

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Being an Executor from Out of State: How to Handle Ancillary Probate

When you’re an out-of-state executor—living in a different city or state than where the estate is being settled—the task can seem even more daunting. However, with planning, communication, and the use of professional resources, you can manage the process efficiently and effectively, even from a distance. While a trip or two may be a necessity,

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Take Steps to Mitigate Risk When an Estate Has Firearms

If an estate has guns an executor should have awareness of the risks and responsibilities associated with the treatment of firearms. Guest Post By Matthew F. Erskine, Esq. Personal Property | 2-minute read When an Estate Includes Guns | Estate Firearms | Estate Risk: Guns Recently, I wrote on planning for estates that contain

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Executor Road: When You’re Struggling as Executor

It’s completely understandable when you’re struggling as an executor or personal representative. It’s a big FAT job. (Fiduciary And Time-consuming). And that’s just the tip of the iceberg. Look, it would be really easy to pontificate about how to be a great executor, how to manage all the tasks, the personalities, the sadness, the emotions,

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What Is a Probate Bond?

When an individual dies, their estate is managed and distributed according to their will or state laws. A probate bond, also known as a fiduciary bond or estate bond, or sometimes an “executor bond”, plays a crucial role in this process. This type of bond ensures that the individual responsible for managing the estate, a

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Delay of Estate Settlement Results In Extra Legal Costs

Delay of estate settlement results in extra-legal costs Source: The Monterey Herald The link: https://www.montereyherald.com/2020/12/12/liza-horvath-senior-advocate-delay-of-estate-settlement-results-in-extra-legal-costs/ you left the estate administration “alive” as a way of keeping the memory of your parents alive. While this is not completely uncommon, it can be risky… This article by Monterey Trust Management‘s Liza Horvath makes a prudent and practical

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