Good evening Dolls,
Happy Monday to you! Hope you had a great weekend. I was so busy! I did 2 Toy Drives with my clients and did an event. It’s always a beautiful feeling when I can give back to my community and make a difference in their life.
Here are the answers to the questions from the past 2 weeks:
1. For a small estate, what is the maximum dollar amount a client must have before having to fill out paperwork for a large estate?
2. What is an Executor/Executrix?
A: person named in a Will to take care of the estate of your loved one (Executrix is the female version)
3. When would there be an Executor/Executrix be assigned?
A: When a Will is created an Executor/Executrix is assigned
4. What is an Administrator?
A: An Administrator is appointed over someone’s estate when there wasn’t a Will in place.
5. When would an Administrator be appointed?
A: When there wasn’t a Will
6. What is a Beneficiary?
A: The person who would receive the money when the account holder passes away
True of False:
7. Can you put a beneficiary on a bank account?
8. If I have a Will, I must be appointed an Administrator?
9. If I don’t have a Will, I must be appointed an Executor/Executrix?
A: False – An Administrator is appointed
10. If there isn’t a Will in place, who can be put in charge of the loved one’s estate?
A. Adult Children
B. Best Friend since birth
C. 3rd cousin
D. A co-worker
Although no one won the gift card, I hope you had the opportunity to review and learn about the importance of having your affairs in order in the event of an untimely death of a loved one. Knowing the process and understanding the importance of planning makes things easier during the grieving process. This is one less problem you have to think about.
As always, if you have any questions, please feel free to email me @: email@example.com
Next week: Wrap up our conversation about paperwork in the courts.
Have a beautiful and blessed week!
Changing the lives in our community….one family at a time