What is the difference between a personal representative vs. a trustee?

What is the difference between a personal representative vs. a trustee?

They both have important roles in your estate plan, but what’s the different between a personal representative versus a trustee? Basically, after your lifetime, a trustee is responsible for your assets held in trust and a personal representative is responsible for your assets held in your individual name. You name your personal representative is named in your will and your successor trustee is named in your trust.

How to talk about incapacity and healthcare

How to talk about incapacity and healthcare

We may not like to talk about it, but most of us will reach a point in our lives where we need more help from others to take care of ourselves. Estate Planning Attorney John Roth and Adult Care Expert Karyn Clay talk about incapacity or the physical or mental inability to manage one's affairs and the care options available.

What if I die without a will?

What if I die without a will?

Will the State take my property? Will my loved ones pay more taxes? These are common questions that come up when discussing what happens if you die without a will, but aren’t necessarily true. Each state has intestate succession statues that try to guess who you would want to get your stuff if you don’t have a will.