What happens to your debts when you die? Although one usually thinks about receiving an inheritance from the older generation, seniors are increasingly accumulating significant debt in retirement, and many have no intention – or ability – to pay off the debt. Betty, an 85-year widow, tries to get by on $1,074 a month in […]
Monthly Archives: October 2014
What is Probate?
Probate is a court process of administering the estate of a deceased person by resolving all claims and distributing the deceased person’s property under the valid will. Creditors need to be notified and legal notices published. Trustees need to be guided in how and when to distribute assets and how to take creditors rights into […]
This Year, Give Santa A Good Lawyer
With a good lawyer, Santa can visit not once, but twice, this Christmas Season. Santa makes his annual appearance on December 24 at the beginning of the Twelve Days of Christmas. Santa’s lawyer can show him the benefit of an encore performance in January, at the end of the Twelve Days of Christmas, known to […]
It is better to Disclaim than to Receive
Your grandmother always told you that it is better to give than to receive. Lawyers generally encourage clients to accumulate assets, but it turns out that Grandma might have been on to something. It might make sense to disclaim an asset. Let’s say Grandma recently passed away at the ripe old age of 104. She made her last […]