If you get bogged down with a high balance that you can’t easily afford to pay off, it can take years to get out of debt. However, what happens to your credit card debt, if you die before you’ve repaid it?
An essential part of estate planning is selecting someone to represent you after your death in the management of your estate. This personal representative is also known as an executor, or executrix, if you choose a woman as your personal representative.
Cindy, a widow in her early 60s, was undergoing physical therapy for an injury to her foot, making it difficult for her to get around. In addition, she was suffering depression brought on by the immobility and pain, resulting in her neglecting to pay bills and taking care of other financial affairs.
Maybe not tomorrow, but the sunset of our historically high estate tax exemptions is coming—and with the election on its way, it could be sooner than you think.
For most of us, considering the distribution of the property we have accumulated over our lives is a painful reminder of our mortality.