How Probate Works. A Guide for Executors, Heirs, and Families.

E110 What Happens to Your Debt When You Die

E110 What Happens to Your Debt When You Die?


Will you burden your kids with your debt when you die? Not a great legacy. We’ll cover all the ins and outs of debt and death.


Today we’ll cover:

    1. When heirs do NOT inherit debt
    2. Some exceptions
    3. Why debt collectors keep calling heirs

Lastly, I’ll explain how your heirs can turn the table and actually increase their inheritance.

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E107 Why Selling Artwork is Hard in Probate

E107 Why Selling Artwork is Hard in Probate


Lately, I’ve read a lot about owning artwork to diversify your assets. This may be a good idea as an investment, but as an Executor, we’ll share with you 5 reasons it’s very hard to sell or liquidate artwork, especially in probate.

And at the end, we’ll share 2 tips on how to make selling art in probate a little bit easier.

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READ

Pick up my books on personal finance, probate, and executors. Reviews always appreciated!

==========

JOIN

Sign up to my email list for Free giveaways and book announcements

==========

WATCH

Subscribe to my YouTube channel

==========

LISTEN

Subscribe to the “Simple Money Wins” podcast at:

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E96 Probate Case Study: How Banks Will Drive You Crazy in Probate


You’ve probably heard that probate is stressful and frustrating. But how, exactly?

 

Here’s a recent example that could drive non-professional executors loco

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E91 Would You Trust ACS with Your Kids? 956x423

E91 Would You Trust ACS with Your Kids? (Reminder to Name Guardians)


If you don’t have a plan in place, what happens to your kids in an emergency? If the police can’t locate next of kin immediately, your kids may be off to ACS, or foster care.


A recent probe revealed concerning facts about ACS.

Links:

https://nypost.com/2019/05/05/acs-is-often-careless-when-handing-kids-to-foster-parents-probe/

http://lauraecowanlaw.com/

https://www.wpaslaw.com/

E89 Will New Law Actually Protect Grieving Families from Creditors 956x423

E89 Will New Law Actually Protect Grieving Families from Creditors


New law in NY to protect grieving families from debt collectors. Better late than never?

Links:

https://www.governor.ny.gov/news/governor-cuomo-advises-consumers-about-new-protections-grieving-families-targeted-debt

https://www.the-leader.com/news/20190329/stronglaw-to-shield-next-of-kin-from-debt-collectorsstrong

https://www.consumer.ftc.gov/articles/0081-debts-and-deceased-relatives

E70 What is Michael Jackson's Estate Worth_ 1920x1080 YouTube

E70 What is Michael Jackson’s Estate Worth?

The King of Pop died in 2009, but even deceased he’s still one of the highest earning celebrities.

With his name in headlines recently, let’s answer some questions about his net worth, how much his estate earns, and who benefits?

How Does US Estate Tax Work for Foreigners and Nonresident Aliens 956x 538

How Does US Estate Tax Work for Foreigners and Nonresident Aliens?

If 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 956x 538 blog

How to Pay Estate Debts

How to Find Out if Someone Died with Any Assets

Does 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 Navigate Family Inheritance Drama With Grace 956x538 blog

E53 How to Navigate Family Inheritance Drama With Grace [Podcast]

(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