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Disputes over deceased estates can arise even in the most harmonious families.
Drafting a will is an essential step in estate planning to ensure that your assets are distributed according to your wishes and to protect the interests of your loved ones.
When a person passes away, their debts don’t simply vanish. Instead, they become part of the deceased estate, which includes all the deceased’s assets and liabilities. Managing these debts while ensuring the fair distribution of remaining assets to beneficiaries is a key aspect of deceased estate administration.
A crucial responsibility of the appointed executor is to diligently account for the debts and obligations within the deceased individual's estate. It is important to note that the heirs and beneficiaries can only receive their respective inheritances once all the estate's liabilities have been settled.
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