Glossary of terms

Common Probate and Trust Legal Terms Abatement: When the estate does not have enough remaining property to pay each beneficiary in full, an abatement is the lesser amount heirs may receive. Administrator: Also called an executor, the person in charge of

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What Is Probate and the 10 Things a Personal Representative Must Know

You’ve been named the personal representative overseeing the probate process for a loved one. The tax is not easy and there are numerous steps involved. The probate process can tax a family and create stress for the personal representative, especially

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Selling a Home with a Reverse Mortgage: Things You Should Know

Financial planning for senior homeowners in the United States was changed forever in 1988 when President Reagan signed the law that launched the Home Equity Conversion Mortgage (HECM) under HUD’s oversight. Commonly called a reverse mortgage, a HECM loan allows

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