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Estate Administration

What Does an Executor Do?

Naming an executor is one of the most important parts of the estate planning process because the executor is the person who is responsible for ensuring that the deceased's wishes are carried out and that all financial obligations are taken care of appropriately. The duties of an executor can range from distributing monies from the inheritance to paying debts ortaxes left behind.

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Estate Planning Yields $20 million for Late Lou Reed’s Heirs

If you are a Massachusetts music fan, we can almost guarantee that you have heard some of Lou Reed's music. This prolific performer and member of the Velvet Underground was a top-tier songwriter who urged us to "take a walk on the wild side." Now, it appears that Reed's estate is getting a bit wild, itself, considering the amount of money it has amassed just since the man's death in October. Reed's estate planning documents have allowed his heirs to see a $20 million increase in the value of the estate since he died.

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Legal Disputes Can Arise Despite Estate Planning

Estate administration can sometimes involve dealing with outside companies and contractors as it relates to the estate's assets. Most of the time, these business dealings go smoothly, but when problems do occur, courts may need to intervene. According to reports, the estate of late singer Whitney Houston has filed a complaint alleging that the company the estate hired to sell Houston's house is denying the estate access to the contents inside.

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