Handling the Debts of a Deceased Loved One

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Handling the Debts of a Deceased Loved One

The passing of a parent or other loved one is a difficult time. Not only is it an emotionally trying period of your life, but it will also pose some logistical challenges that you must overcome. One of the more complicated aspects of managing the estate of a deceased loved one is paying off all […]

Codicils Allow for Small Changes to a Will Without a Complete Overhaul

Do you need to make minor changes to a will? You can add an amendment called a “codicil” without having to revamp the entire document. This can be an ideal way to revise a will when you have simple changes, such as changing the name of an executor or swapping out any other provisions. In […]

What’s the Difference Between a Healthcare Surrogate Designation and a Living Will?

A healthcare surrogate designation and a living will are two different kinds of advance directives you can include in your estate plan. But while the functions they serve are similar in a sense, the ways they operate are quite different. The following is an overview of each to give you an idea of what they […]

Challenging a Will Comes with Certain Risks

Can you challenge the will of a recently deceased person? The answer might be yes, but even when it is a viable path forward, you should be aware that there are certain risks that come with doing so. To challenge a will, you must show that there is something wrong with the will itself or […]

Important Tips for Including Stepchildren in Your Will

Unless you have legally adopted them, your stepchildren do not have any legal right to an inheritance from you. Therefore, to make sure your stepchildren inherit part of your estate, you should name them in your will or trust documents. Below you will find some information about how you can manage your stepchildren and their […]

Can Unmarried Couples Engage in Estate Planning?

Estate planning for couples is not limited to those who are legally married. If you have a partner with whom you are very close, you should still prioritize estate planning to ensure he or she inherits your possessions after your death. Otherwise, if you pass away without a valid will, the state’s laws will dictate […]

Tax Reform Comes with Changes to Estate, Gift Taxes

The major changes to the tax code brought about by the Tax Cuts and Jobs Act of 2017 will have a significant impact on how people with a high net worth will plan their estates. Under the new law, the estate tax exemption is doubled to approximately $11.2 million for individuals and $22.4 million for […]

Important Florida Burial, Cremation Laws that Could Affect Your Estate Plan

As you are planning your funeral wishes, including whether you want your body to be buried or cremated, it’s important to keep in mind that Florida state law could affect your options. The following are some key considerations: Casket necessity: There are no laws in Florida requiring you to be buried in a casket. However, […]

What Happens with Debts when You Pass Away?

There are a few types of debt that will be forgiven upon your death. However, in most cases, debts and other financial obligations you have will be paid out of your estate. The following is a quick look at some of the most common types of debts and how they get handled when the debtor […]