When you think of “estate planning,” chances are your Facebook page, PayPal account, and Amazon Prime login probably don’t come to mind. But they should. Depending on who you ask, the value of the average American’s digital estate is between $33,000 and $55,000…
E66 5 Myths About Probate Real Estate
/in New York Probate Real Estate, Probate /by Anthony ParkDoesn’t it feel like everyone is telling you it’s “so easy” to make money with probate real estate?
So let me share the real deal, from the perspective of a professional executor and probate attorney. That means I’m the guy actually selling the probate real estate.
How Does US Estate Tax Work for Foreigners and Nonresident Aliens?
/in Non-US Probate, Probate /by Anthony ParkIf a foreigner or non-resident alien died owning US accounts, the estate may owe US estate tax.
Any US bank or brokerage will need proof of tax clearance before they can release any funds to you.
Let’s talk about:
When does US estate tax apply?
How much is US estate tax?
What are the steps to get US estate tax clearance?
How to Pay Estate Debts
/in Probate /by Anthony ParkHow to Find Out if Someone Died with Any Assets
/in Probate /by Anthony ParkDoes this sound like you? “My uncle (or grandfather or other relative) died. I think he left me something. How do I find out if there are any assets?”We get these calls all the time.Let’s talk about why a lawyer isn’t the best person to call (yet), a few things you can do on your own, and when to hire a professional.
How to Choose the Right Executor for Your Will [Podcast]
/in New York Professional Executor, Professional executor, Solo Agers /by Anthony Park(1) Trust is Key, (2) Take Age Into Consideration, (3) Put One Person in Charge of the Will, (4) Learn the Residency Rules Where You Live, and (5) Know When a Trust Makes Sense
4 Unexpected Hazards of Being an Executor
/in Professional executor /by Anthony ParkIt’s usually seen as an honor to be named the executor of someone’s will. It shows that the deceased trusted you to manage his affairs fairly, in a manner consistent with his wishes. What you may not realize is how stressful, time-consuming, and just plain difficult it can be.
E53 How to Navigate Family Inheritance Drama With Grace [Podcast]
/in Professional executor /by Anthony Park(1) When the Executor Fails to Preserve the Value of the Estate, (2) When the Executor Appears Biased, (3) When a Beneficiary Steals Estate Items, (4) When Siblings at Odds Inherit a Piece of Property Together, (5) When Co-Executors Disagree on How the Estate Should Be Administered
Where to Find Unclaimed Money [Podcast]
/in Probate /by Anthony Park(1) Former pension and retirement plans, (2) Life insurance policies, (3) Federal tax returns, (4) State departments of taxation…
How to Create an Estate Plan for Your Digital Assets
/in Wills /by Anthony ParkWhen you think of “estate planning,” chances are your Facebook page, PayPal account, and Amazon Prime login probably don’t come to mind. But they should. Depending on who you ask, the value of the average American’s digital estate is between $33,000 and $55,000…
Inheriting Money? Do These 5 Things First
/in Probate /by Anthony ParkExpecting an inheritance windfall? You’re probably already making plans for what to do with the money. But there are a few things you can—and should—do to maximize the long-term value of your share of the estate and honor your loved one’s legacy.