An estate executor usually has a lot of leeway on how to take care of an estate and handle the probate process. However, this doesn't mean he or she can do whatever he or she pleases. Here are four mistakes that can put an executor's position in jeopardy:
1. Showing Bias to Some Beneficiaries
The executor is legally obligated not to take actions that may benefit some beneficiaries at the expense of others.
Sometimes an employee's outside activity (paid or unpaid) can cause a professional conflict for your business. However, you have to proceed carefully before you fire an employee for his or her conduct off the job. These are the things that you need to consider.
Is the outside activity legal or illegal?
If the outside activity you're concerned about is legal and unrelated to a job, you may not be able to do anything about it, especially if the action is protected under the law.
Do you own your own business? Do you also prepare your own taxes? If so, you could unknowingly be exposing yourself to serious tax penalties. Making any number of mistakes with regards to deductions, worker classifications, or even compensation, could get you in hot water with the IRS. If you underpay your taxes or provide inaccurate information, you could pay substantial interest and fines. There are a few errors that are common among business owner tax returns.
When mothers head to the hospital to give birth and have an issue during delivery, they expect for the doctor that they are seeing to provide reasonable care to them. However, when a physician fails to provide a certain level of care, it can result in the serious injury – possibly even death – of the mother or the baby. Birth injuries come in many forms and sizes, and statistics show that six to eight of every 1,000 infants are injured during birth.
If you are getting a divorce and acquired the house, you will need to remove your spouse's name from the title. This is often done using a quit claim deed, which means the ex-spouse forfeits all right to the property. The spouse who retains ownership, or grantor, commonly pays the grantee a valuable consideration in exchange for forfeiting their rights to the property. Here are some tips for removing spouses from house titles with quit claim deeds.