Every state comes with its own rules and regulations on how the debts need to be paid. The executor is required to notify the creditors that the person has passed away so that these creditors can lay claim for their payments. The way the notice is sent to the creditor varies from one state to…
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A mentally ill child is your responsibility. The government also chips in with public benefits to help you handle the situation. However, we have seen some cases where the family of the mentally ill child ended up jeopardizing the eligibility to receive these benefits. Let us focus on how you can plan your estate the…
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Estate planning mistakes can leave your adopted child, however much you love him, without any cent. Each state has rules about inheritance, which means you need the services of an established estate planning attorney to interpret the rules for you. They also guide you on coming up with the best estate plan. When you don’t…
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Cancer – the dreaded disease that has beaten even the minds of the best scientists. Cancer diagnosis isn’t a death sentence, but many times, the prognosis of patients is poor. Some patients live for a few months while others survive with the cancer for years. Some families see cancer as a taboo, a subject they…
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The previous article gave us an idea of how to resolve estate planning issues and how to value the house before selling it. This part looks at the next steps. Perform a Home Inspection Tidbit Did you know that if a home review uncovers problems with the house, the buyer might lose interest in your…
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When you are working, you get to set up a retirement account that will assist you to live well after you retire from active work. The retirement account is ideal for both office workers and small business owners. Some of the common accounts include the IRA and the 401(k) accounts. Having a retirement plan gives…
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When planning your estate, reality remains that the worth of your assets changes with time. By the time you are done with the estate plan, the value might have shifted up or down. This is the reason you need business valuation services. When you handle business valuation using an expert, you are sure that the…
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In the last part of this series on estate planning, we look at the other ways to sell off the house successfully. Tidbit The number of houses that were sold in 2019 is 12.4 percent more compared to the previous year. Meaning more and more people are opting to sell their homes. Selling to an…
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Statistics show that more than 80 percent of people have homeowners insurance. This means that the house you inherit most likely has an existing insurance policy. After you determine the mortgage and other debts on the property, you can now go ahead to see if your parents had an insurance policy on the house, and…
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Scenario When her parents died, Anne received all the property as the sole heir. Since she was busy, she failed to notice that the mortgage was accruing, only for the house to be repossessed by the company after a few years. It happens, especially when estate planning isn’t in your mind. This part of the…
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