March 2019 - Gratitude is always in season! |
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Your monthly look at the world of estate administration and professional organizing... plus random thoughts on world travel, craft beer, and local businesses we love. Submit feedback (or questions for future newsletters) to eileen@legacyestateorganizing.com |
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THANK YOU TO EVERYONE WHO PURCHASED THE EBOOK OR PAPERBACK OF AFTER THE FUNERAL! THANK YOU TO THOSE WHO PURCHASED. THANK YOU TO THOSE WHO REVIEWED. THANK YOU TO THOSE WHO SHARED ON SOCIAL MEDIA. I am humbled and grateful for everyone who jumped at the launch of my first book! I am even more grateful for those of you who took the time to write a review on Amazon! Reviews are integral to book sales, as are word-of-mouth recommendations. NOTE: I received a few early reviews accredited to "Amazon customers." If you wrote one of these anonymous reviews, please email me privately so that I may thank you properly!! If you are interested in purchasing the ebook or paperback, please go to Amazon.com by clicking on the link below. | | |
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THE LEARNING CORNER The other day, I was asked to define the difference between a will and a living trust. Here's a quick explanation from someone who is NOT an attorney nor has played one on TV: A will is a document that designates to whom you wish your assets to go after you die. If you name an executor in your will, the court generally confirms him/her as the personal representative for your estate. Then begins probate, which is the formal process of accounting for and distributing your assets. In most cases, probate is a matter of public record -- meaning that interested parties could find out what assets you left and how they were distributed. |
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A living trust, on the other hand, is a vehicle that you set up while you're alive to manage the majority, if not all, of your assets. Each asset must be retitled in the name of the trust to be included. You are the trustee of your living trust, so although the assets are no longer in your name, you do have control over them. Once you pass away, your successor trustee is responsible for managing your trust. He/she will distribute items as specified in the trust. One benefit of utilizing a living trust is that you avoid probate -- meaning that your assets and how they were distributed remains private. However, some small assets may turn up that were never retitled in the name of the trust, so occasionally the trustee will still need to open a small estate and/or go through probate for those assets alone. |
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TRAVEL GEM: SINTRA, PORTUGAL We leave the world of craft beer behind this month to venture into another of Eileen and Eddie's favorite hobbies -- travel. We were fortunate to spend 9 days in Portugal in 2014 and highly recommend it as a travel destination! Porto, Lisbon, and Fatima were all wonderful -- the people, the food, the history, and of course the blue-and-white tiles! -- but we were most surprised by the UNESCO World Heritage Site named Sintra, a short train ride from Lisbon. With its assortment of parks and palaces (especially the Pena Palace and the Quinta da Regaleira estate), Sintra is truly enchanting. The village itself is a charming collection of shops and restaurants, with astounding views of the surrounding mountains. Top off your day with a pastel de nata (custard pastry) and a glass of the sour cherry liqueur known as Ginja or Ginjinha, and you really will feel like royalty. |
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