Downs Law Firm, P.C.
It is quite a tragedy when a loved one passes away. You may want to remember them by keeping sentimental objects from their home, or perhaps they wanted you to inherit a specific item.
There are many stories of strange conditions in wills and trusts over time. For example, the German poet Heinrich ‘Henry’ Heine died in 1856 and left his estate to his wife, Matilda, on the condition that she remarry, so that ‘there will be at least one man to regret my death’.
Usually when asked to be the executor of a family member’s estate, the person feels honored and trusted. It’s a big responsibility, since the executor will be carrying out a person’s final wishes.
Especially with the average U.S. household having $7,027 in revolving credit card debt and Americans owing a total of $416.1 billion in credit card debt, according to a recent Nerdwallet study, some Americans will have credit card debt for the rest of their lives. However, what happens to credit card debt when you die?
How can we see if there was a will and if it’s worth pursuing?
Your legacy is what you leave behind: What people will remember about you and receive from your life? Legacy planning is about fostering your relationships and passing on what is most important to you for your loved ones.
There are continuing misconceptions regarding what powers are held by a personal representative and when he can exercise them.
The list of things you need to do after someone dies can seem endless, especially during a time when you are also grieving.
When a member of your family dies, you could be left to pick up the financial pieces. Finding all the information you need can be challenging.
It’s never too early to start estate planning. If you already have a family, getting your personal affairs in order is a must. The sooner you start planning, the more prepared you will be for life’s unexpected twists and turns.
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