When a loved one passes away owning securities, there are steps that the personal representative and/or the trustee of the decedent’s trust should immediately take to minimize investment risk during the estate administration. In today’s column I’m going to review these basic concepts. Most folks own securities in some form or another. They may own
Take this true story where a lady named Helen made a 1996 will that left her entire estate to her brother Edward, also naming Edward as the personal representative (executor). In 2001 Helen, who was a Florida resident, became sick and her brother traveled from his home in New Jersey several times to take care
The marshalling and identification of all of your loved one’s assets. This includes those owned individually, in trust, or in joint name with someone else. Implementation of new tax cost basis and discussion of prudent asset management during the course of the administration with members of your financial team.
An overview of the legal, tax and financial road that we will travel together following the loss of your loved one. The initial process of The Estate Settlement Program™ will allow you to get familiar with your role and responsibilities when completing the estate settlement.