Ocean County Estate Planning Blog

If you have been named the executor of a loved one's estate, you could have many different questions. Moreover, there are a number of responsibilities you should be aware of and it is important to make sure that you take care of these obligations. Sometimes, unforeseen hurdles can also arise, such as a dispute which involves your family members and beneficiaries. For example, you may be accused of the breach of your fiduciary duties and this could have a significant impact on your life. Preventing these problems is vital and it is also crucial to handle them properly in the event that they surface.

There are various motivations behind someone's decision to accuse an executor of wrongdoing, some of which may be entirely fabricated. For example, a beneficiary may be unhappy about how the estate was distributed and believe that their rights were violated. Or, they may knowingly accuse an executor of the breach of fiduciary duties in an attempt to get revenge or gain access to assets that they are not supposed to receive.

There are a number of situations in which people decide to set up a guardianship, such as someone who is no longer able to take care of themselves due to an age-related condition or a mental disability. However, some people can find themselves in this position unexpectedly and with no warning. For example, someone may be struck by a drunk driver and seriously hurt. In fact, the injuries they sustain in a car accident may completely derail their life, such as those who are in a coma. If one of your loved ones is going through this, moving forward with guardianship may be helpful.

The emotional pain that people experience during these circumstances can be incredibly overwhelming and make one feel like giving up. However, it is crucial to stay focused and do all you can to provide your loved one with the care they need. This may include becoming a guardian to ensure that they receive the care they need, which may take many forms. For example, you may be able to help them with day-to-day issues related to a lack of mobility and protect them financially also. There are a wide variety of factors that you may need to consider before moving ahead with guardianship, but this option has helped many families in similar situations.

There are many considerations that people have when it comes to setting up a power of attorney, from finding the most suitable candidate to revoking a power of attorney (both of these topics have been addressed in previous posts on this blog). However, some people may need to help a loved one set up a power of attorney, whether they need support from someone they trust or you want to make sure that their interests are protected. Regardless of the reasons why a power of attorney is necessary, it is critical to approach the process correctly.

Your loved one may not believe that they even need to move forward with a power of attorney, even though you are convinced otherwise. In these instances, it is important to do what you can to show people the advantages of this opportunity and help them make the decisions that are best for their health and finances. You should try to avoid coming across as pushy or forceful, since you do not want your loved one to feel as if they are being taken advantage of or coerced into making an important decision.

When a spouse or a loved one passes on, most families must begin a legal process called probate. Probate procedures help distribute the deceased person's estate and debts to heirs and designated beneficiaries.

This process can take the family up to nine months, so avoiding it all together may make a world of a difference during an emotionally difficult time.