Paula Clarkson, Author at MRC Law Corp

Update Your Estate Plan to Protect Spouse and Children

Imagine you get married and within a year or two, your new spouse passes away. Now, imagine that your grief is compounded with financial stress.

Do I Need A Revocable Living Trust?

Do you ever worry about how your beneficiaries will manage their portion of their inheritance when you pass away? One solution that allows you to still exert some control over your money–even after passing–is with a revocable living trust (RLT).

Common Will Mistakes to Avoid

The most obvious mistake is not to have a will at all. The news is replete with examples of celebrities who have died without a will, including: Prince, Michael Jackson, James Brown and even Abraham Lincoln.

Do You Want to Decide or Do You Want the State to Decide?

Estate planning attorneys will agree, it’s better to die with a properly drafted will than to die without one. If you don’t have one, consider getting one.

Does My Mom Have to Pay My Dad’s Credit Card Debt after He Dies?

My father recently passed away and we discovered he had a large credit card debt on a card in his name. My mother wasn’t aware of it. All assets are in both of their names. Is my mother liable for the credit card debt?

Fraudulent Social Security Calls Still Targeting Seniors

You’ve probably received one: A recorded call warns of a problem with your Social Security number. To fix it and avoid legal action, you’re told, you must call back immediately—and pay up.

What Exactly Is the Estate Tax?

The estate tax in the United States is a tax on your right to transfer property to other individuals upon your death, according to the IRS. In other words, when you die, the U.S. government might be entitled to a portion of your assets before the remainder can be passed to your heirs. Not all inherited assets are subject to the estate tax. In fact, the U.S. estate tax only affects the wealthiest households.

Author: Paula Clarkson