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Creditors have several options at their disposal to recover past-due balances on accounts. These include things like getting the debtor to agree to a payment plan or going through the court to have a paycheck garnished. But, those collections stop when the debtor...
When someone dies, their financial obligations do not simply cease to exist. Their debts become the responsibility of their estate. Any assets they have become the property of their estate. The personal representative administering the estate typically has to notify...
In many ways, digital technology has made home closings easier than ever before. If there are mistakes with the closing paperwork, it may only take a few minutes for professionals to adjust the documents and get corrected versions over to the right parties. It is...
People who owe significant debts may spend years of their lives repaying what they owe. Creditors have to balance the desire for prompt repayment with the need to allow debtors to fulfill their other financial obligations. In some cases, people who owe money may die...
Many adults spend time deciding who should oversee their estate when they die. They may select someone based on their personality and their personal history. Of course, people might die without naming they might die without a will at all, or they might name someone...
When someone dies, whatever property they own becomes the property of their estate. Their financial obligations also pass to their estate. The personal representative named in an estate plan or appointed by the courts has to fulfill the decedent's financial...
Usually, estate planning documents and state law determine what happens with someone's property after they die. State law can manage the entire process, or people can take control of their legacies by creating wills. A will can designate specific assets for individual...
Among the most valuable assets a person can inherit is a home, especially in California where prices are among the highest in the country. It can also be one of the more complex assets one can inherit, particularly if it has to go through probate. If you inherit a...
The death of a debtor can complicate matters for creditors owed money. While the debt doesn't simply disappear, navigating the process of collecting from a deceased individual's estate requires specific procedures under California law. When someone passes away in the...
Businesses owed money by an individual typically expect to receive full repayment. Sometimes, the collection process can become quite lengthy. Individuals may not currently have the resources or income to pay the debt in full and may only make minimal payments toward...