What Is the Fair Market Value of Inherited Property?
Inheriting property can be a complex process, with numerous factors to consider. Before you decide whether to keep, donate, or sell your inherited property, it’s important to understand the fair market value of the asset, which is its estimated worth on the open market. Is Fair Market Value Calculated at the Time of Death? Yes, […]
What Do You Do With Inherited Jewelry?
If you have inherited jewelry, there are several options you can consider. Ultimately, the decision of what to do with inherited jewelry depends on your personal preferences and financial needs. For instance, jewelry in good condition can be worn and become part of your wardrobe. Likewise, if the jewelry has sentimental value, you may choose […]
Can You Sell Stock In a Trust After Death?
Whether you can sell stocks in a trust after death generally depends on the specific terms and conditions of the trust and the laws of the jurisdiction in which the trust was established. If the trust agreement allows for the sale of stocks, the trustee can sell the stocks as directed by the trust agreement. […]
What Do You Do If You Inherit Millions of Dollars?
Key Takeaways Introduction Inheriting millions of dollars or any large sum of money can be a life-changing experience, but it also raises many questions about how to manage this wealth responsibly. Taking responsible steps afterward will help you preserve this wealth for you and your heirs so you can enjoy the full fruits of your […]
Can I Sue Heirs of a Deceased Person?
If you have a valid legal claim against a deceased person, you may still be able to receive compensation by filing a lawsuit against the deceased person’s estate. However, you will typically need to direct your efforts at the estate rather than the individual heirs. Under California Probate Codes §9050 and §9051, the personal representative […]
What Is a Breach of Trust?
A trustee is a fiduciary, which means that they have a legal duty to act in the best interests of the trust’s beneficiaries. A “breach of trust” occurs when a trustee violates their fiduciary duties. In general, trustees have a duty to act in the best interests of the beneficiaries, to manage the trust property […]