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Get help if you've been named as a beneficiary of an estate

If you are a beneficiary named in a will or an estate plan, it's important that you know what that means and how it can affect you. To start with, you probably realize that being a beneficiary means you'll inherit assets, but it also means that you will lose a loved one in the process.

This tragic time in your life can be complicated by the need to be present when a will is read or by having to go to an attorney's office to speak to them about an inheritance. You'll need to make difficult decisions about minimizing taxes and to make sure you complete tasks by outlined legal deadlines.

All of the stress of being a beneficiary is something most people won't talk about. Fortunately, if you work with your attorney, you should be able to reduce the stress of the situation significantly.

When your loved one passes away, you may need to take time to gather documents regarding your inheritance. You will also need to reach out to professionals, such as your attorney and tax advisors, to make sure you know how accepting an inheritance is going to affect you.

Hopefully, your loved one will consider these aspects of providing you with an inheritance, but if not, remember that there are people who can help. Our website has more information about becoming an heir or beneficiary of an estate. If you need assistance in understanding what you need to do to accept an inheritance or to minimize the taxes you face, your attorney can talk to you more about your specific situation.

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