So, the other day, I felt like a total adult. Like, so adulty, that it made me feel uncomfortable. Why? Well, my hus and I took a long overdue trip to the attorney's office to sign our wills, health care proxies, and other important documents so that we could protect our kids from any additional anguish should the worst case scenario become a reality.
Every adult -- especially seniors -- should have at least four essential legal documents to protect them and their family. These documents will make sure your wishes regarding your estate are legal and clear, and will help minimize any conflicts and confusion with your family and your health care providers if you become seriously illness or when you die.
Estate administration involves the probate of the decedent's estate and typically includes three broad actions: (1) asset collection, inventory and appraisal; (2) collecting and paying debts and taxes; and (3) distributing the remaining assets to beneficiaries. This process may occur with or without a will and may occur subject to a probate court or outside a probate court.