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Posts tagged "Heirs & Beneficiaries"

New heir? Here's what to know if you weren't notified

If you are going to be an heir to an estate, it's important that you know what you need to do when your loved one passes. As an heir, you may need to wait for the estate's executor to pay creditors, taxes and to locate the will before you can get what you're owed.

Review your estate plan annually or when circumstances change

A person's will outlines what they want to happen with their assets when they pass away. This is often done in conjunction with trusts to ensure that things get to the correct beneficiary in a timely manner. Many people who are creating a will choose to discuss the terms of the plan with the heirs. Sometimes, there are changes that will be necessary due to changes in the person's wishes or changes in circumstances.

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