Updating your will is not at the top of your to-do list after you have already drafted a will to protect your family and loved ones. While this is certainly understandable, your life did not stand still the moment you signed that document. It is important to update your will on a regular basis because a lot can change even in a year that might make parts of your will obsolete.
Whether you are working on the details of your own estate plan or you have been named as a personal representative for the estate of a loved one, understanding the function of the probate process is essential. How familiar are you with the legal proceedings that ultimately dictate how an estate is to be dispersed?
We all know how important it is to have a will, but do you know what to do if you are named as an executor of someone's will? The executor of a will is legally responsible for the management of the deceased's financial obligations.