“When creating an estate plan, one important question to consider is how to handle the transfer of personal property, including your home. A Qualified Personal Residence Trust, or QPRT, is something you may decide to create to minimize gift and estate taxes associated with your heirs.”
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What Happens to Debt when You Die?
“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 Continue reading
Two Words Could Undo Your Entire Estate Plan
“’Per stirpes’ vs. ‘per capita.’ Making the wrong choice could cause an estate planning disaster.”
No one relishes the idea of planning for their own death, but the alternative of not planning and leaving your family members to sort out an expensive mess is a poor way to be remembered. Continue reading
A Non-Medical Check Up – For Your Estate Plan
“Did you name someone as an heir who is no longer in favor of you or—worse yet—has died? Who should get what they would have gotten? Are there now new people in your life—be they family members or not—whom you might wish to share in what you may have?”
An estate plan isn’t just for Continue reading