Understanding Your Appointment Suppose your mom, who is widowed, has 3 children (including you). She executes a will that leaves her estate to you and your 2 siblings, and names you as executor of her estate. Then your mom dies. You hire an attorney who files all of the necessary documents with the probate court, and after a short hearing, the court appoints you as an independent executor for your...

Gifts That Violate the Statute of Frauds In May of 1954, Uncle Bob made an agreement with his 2 nieces, Anne and Becky. Under the agreement, Uncle Bob would purchase a house and convey it to Anne and Becky. They, in turn, would provide Uncle Bob with a home as long as he lived. The 2 sisters agreed to make the mortgage payments and pay the taxes, utilities, repairs, and...

Understanding the “Season of Giving” Pitch In this season of giving thanks for giving and giving for thanks, we should look at a financial product that is all about giving. I am speaking, of course, of annuities. An annuity is often marketed as a modern miracle: you give money to an insurance company and receive a guaranteed stream of income in return. Frankly, the insurance company is embarrassed to be caught...