The Ins and Outs of Collecting Life Insurance Policy Proceeds

 

Unlike many estate assets, if you’re looking to collect the proceeds of a life insurance policy, the process is fairly simple provided you’re named as the beneficiary. That said, following a loved one’s death, the whole world can feel like it’s falling apart, and it’s helpful to know exactly what steps need to be taken to access the insurance funds as quickly and easily as possible during this trying time.

And if you’ve been dependent on the deceased for regular financial support and/or...

Before Agreeing to Serve as Trustee, Carefully Consider the Duties and Obligations Involved—Part 2

 

Last week, we shared the first part of this series explaining the powers and duties that come with serving as trustee. Here in part two, we discuss the rest of a trustee’s core responsibilities. 

 

Being asked to serve as trustee can be a huge honor—but it's also a major responsibility. Indeed, the job entails a wide array of complex duties, and trustees are both...

Before Agreeing to Serve as Trustee, Carefully Consider the Duties and Obligations Involved—Part 1

 

If a friend or family member has asked you to serve as trustee for their trust upon their death, you should feel honored—this means they consider you among the most honest, reliable, and responsible people they know.

However, being a trustee is not only a great honor, it’s also a major responsibility. The job can entail a wide array of complex duties, and you’re both ethically and legally required to effectively execute those functions or face...

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