Eric J. Einhart, Esq. welcomes you to his upcoming webinar on, “How to Keep Fiduciary Clients Out of Hot Water”, where he will discuss the due care and due diligence required of a fiduciary, types of misfeasance and malfeasance that…
A family member or friend may ask you to act as power of attorney to make medical or financial decisions on their behalf. This person may be planning for a time when they can't take care of their affairs due…
If you are a trustee of a trust or an executor of an estate that owns real property, you may need to sell the real property throughout the course of the administration of the trust or estate. Before you move…
Today (March 6, 2017) marks the last day a fiduciary of a trust or estate can make a distribution from the trust or estate, and still take the 65-day election on the fiduciary income tax return. The general rule is,…
Being the trustee of a special needs trust is a very important role as it serves to protect the interests of a beneficiary with special needs. Often, a special needs trust is established so that the beneficiary can have the…
In our last article, we discussed the ramifications of not having a succession plan in place for a business. In this article, we will discuss the role of a fiduciary of an estate, and how an individual in that role can ensure the business continues to operate if the owner passes away.
In order to continue running the business of a deceased person, someone must be appointed as the fiduciary. This is all dependent on whether there is an estate plan in place, namely if the owner has a Last Will and Testament that must be probated with the local Surrogate’s Court.