In many cases, the surviving loved ones are not obligated to pay your debt when you pass.
Read MoreAdd a joint owner or transfer on death to each bank and investment account and asset (e.g., car, real estate, business) to avoid probate.
Read MoreSmall estates do not need to file probate, which can simplify the process. Your next step will be to submit a signed affidavit to the court.
Read MoreMedicaid collects “estate recovery” after the person passes away to “pay back” the costs paid out. This means that you won’t get any remaining assets of the deceased.
Read MoreThis means compiling a list of real estate, personal property, bank accounts and debts as line items with a detailed description of each item and its fair market value.
Read MoreProbate lawyers can help executors or administrators of the estate navigate through the probate process.
Read MoreAn Estate account is a new account opened after someone has passed away. The Executor can deposit all of the deceased person's money, pay debts and bills, and then ultimately distribute the money to the beneficiaries. Even if you have joint accounts with the deceased person, you will likely still want to do this to avoid risking mixing your personal money with the estate’s money, to make sure that there are no issues getting tax refunds and death benefits, and to reduce the risk of family conflict
Read More