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When someone designates you as the executor of his or her will, you become the administrator of his or her probate estate when (s)he dies. This makes you a fiduciary. As FindLaw explains, this means that you represent the estate and its beneficiaries, i.e., the heirs....
It is easy to think of a trust as an account that holds assets, but the true definition is that it is a legal document that sets out the holding of assets. A trust is more like instructions than an actual tool. Once you understand what a trust is, you can begin to...
As you age, you become more vulnerable to illness and complications. In some cases, these illnesses may incapacitate you physically or mentally. If you cannot make financial or medical decisions, then you have to depend on someone else. According to U.S. News, a power...