Downs Law Firm, P.C.
Generally, when settling an estate, debts and expenses are paid first, charitable and spousal transfers follow, and applicable estate taxes are levied afterward.
Unfortunately, credit card debts do not disappear when you die. Your estate, which includes everything you own–your car, home, bank accounts, investments, to name a few–settles your debts using these assets.
Congratulations, you have finally signed your estate planning documents. Now, where do you keep them?
When a loved one dies leaving property, debts and a mortgage, and if he did not have a living trust, probate is required to sort everything out.
Acting as an executor can be a tremendous amount of responsibility and a time-consuming duty.
While it would seem obvious that you should tell the person you name as executor that he or she is your choice, that is not always the case.
I want to name a new executor. Who could I name as a backup?
Do I file 2018 tax returns for my father? He passed away in October 2018.
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