Category: Debt
“Even those with the best of intentions can fall into the trap of estate planning misinformation. Estate planning attorneys frequently hear rumors and ill advice disguised as facts.” Every family has one: the brother-in-law or aunt who knows everything about, well, everything. If the information is wrong, expensive problems are created, especially when it comes […]
“Creditors typically try to collect on unpaid debt, by going after the decedent’s estate during a process called probate.” When a person dies, it’s not unusual for them to leave behind some unpaid debt. What happens to that debt depends upon how their estate was organized, says the article “This is how your unpaid debts […]
“The fantasy of being your own boss and filling your days as you wish is a powerful one. However, if you’re not careful, you could spend those golden years trying to earn more or pinching every penny.” There are just about as many ways to ruin your retirement as there are light bulbs on Broadway […]
It is a good idea to have a plan, just in case you do retire. Many business owners have worked for years to build up their business and don’t have any intention of retiring. However, that day is likely to come and it would be wise to have a succession plan, according to The Gardner […]
Planning for retirement may be a hard job. However, it can turn into some joyful years later in life. Planning for your retirement is not only a big job but a really important and serious job that can be used to create a pleasant and even youthful retirement that has a good chance of being […]
Creditors often have to file a claim in order to collect a debt. Creditors who learn a debtor has passed away need to file a claim against the estate, which may include a trust, according to the NWI Times in “Filing claims against a trust.” Depending on the state, filing a claim against a trust […]
A total of 73% of Americans leave debt behind when they pass away. The type and amount of debt left behind when someone dies is key to what happens next, according to FOX Business in “Americans Are Dying with an Average of $62K of Debt.” Because 73% percent of Americans pass away with debt that […]
Debts, as well as assets, are often left behind when you pass away and it is important to know that all debts are not treated equally. The payment of debts can sometimes be avoided while you are alive through actions such as bankruptcy – but when you pass away, they are often treated differently. Quicken […]
As a result of a German law that makes any heirs liable for any debts, no one is making any claims on the estate of the German co-pilot who is alleged to have crashed a passenger plane into the Alps. The estate of Andreas Lubitz has filed for bankruptcy. Lubitz was the German co-pilot now […]
In deciding how best to approach an estate matter, it is important to be aware of how the estate creditors are to be paid. What happens to your debt when you pass away? Most Americans have debts of some kind and most debts do not disappear when the debtor passes away. Instead, the debts are […]
