What Debts Must Be Paid after I Die?
If you are concerned about incurring debt after a family member’s death or are worried how your own debt will impact your family, here are some things you should know.
December 18, 2020
If you are concerned about incurring debt after a family member’s death or are worried how your own debt will impact your family, here are some things you should know.
Retired Pope Benedict XVI has declined the inheritance of his brother Georg, who died in July, reported the German Catholic news agency KNA.
A trustee is a manager of assets in a trust. The grantor creates the trust and appoints the trustee. A trustee has a ‘fiduciary duty’ to serve the grantor and not benefit personally.
Probate is a process to transfer the assets after someone dies. For example, when a homeowner passes, probate allows for the home to be sold or transferred, if necessary, even though the owner is no longer alive to sign a deed.
Gifting sounds pretty simple, but there are many ways to do it. There are also several tax ramifications to be aware of.
Do you expect your parents to leave you a financial legacy? Nearly half of working-age Americans assume that they will receive an inheritance that will support them later in life, according to a survey by financial services company HSBC. Perhaps the bigger question, though, is how to even approach this topic with your parents.
If you are caregiving from a distance (you live here and your parent or other loved one is in another state, a distant city or as close as an hour away), it can be even more daunting than doing it in your home.
Personal property is a unique category of asset. Even in the simplest after-death distribution, personal property can become a hindrance to final distribution. There are a couple of reasons why.
If you are the parent of a person with special needs, you are well aware that the role you play is very different than it may be for other children. Properly planning to meet their financial needs, both in the immediate and long term, is a critical part of supporting your child. This support must often continue well past the typical age of adulthood, which means parents need to put in place financial tools to care for their children, in the event of the parents’ death.