For many people, serving as the executor of an estate or as trustee of a trust can be a dubious honor. On the one hand, it's a clear sign that someone trusted you, respected your ability to follow directions and make decisions and believed that you would follow his or her last wishes.
After the death of a loved one, those left behind often feel overwhelmed with the details involved in wrapping up the deceased's affairs. This is especially so for those appointed as estate executors.
Baby boomers began reaching the age 70-and-a-half milestone in the middle of last year. Since then -- and for the next 18 years -- 10,000 baby boomers will retire each day.
This has happened more than once. Someone - let's call him Robert Sr. - grants his son, Robert Jr., financial power of attorney for himself. When Robert Sr. becomes ill, Robert Jr. dutifully pays his bills and manages his accounts.
After a close family member has passed away, the last thing you want to worry about is debt that was left behind. A decedent's debts usually disappear upon death. Unfortunately, this is not always the case, leaving mourning family members with big bills to pay.