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Dealing with the debts of a deceased individual is a complex and sensitive issue that creditors often face. Understanding the intricacies of this process is crucial, especially when an estate lacks sufficient assets to cover all its debts. When an individual dies,...
Those seeking to collect money from an individual may feel concerned about their finances when a debtor dies. After all, someone who has died can no longer earn income to pay what they owe to others. Despite someone's death effectively transferring their assets to...
In many cases, people who purchase life insurance policies do so with the goal of creating one of the most substantial assets that they can pass on to their heirs. They may know that they will use their savings for long-term care or retirement. By purchasing a life...
Inheriting a parent’s home can be a mixed blessing. Even if they paid off the mortgage and owned it “free and clear,” it can take a good deal of time and money to get it into shape to sell, use it as a rental property or move in. Additional complications may present...
Someone who takes the time to put together an estate plan typically has people they want to protect and/or a specific personal legacy in mind. Their documents should be a reflection of their personal preferences, not the wishes of other people in their life....
An executor, personal representative or administrator of a California estate has numerous obligations that they must fulfill. Not everyone is capable of serving in that role, which is why testators often think carefully about who to name to carry out their last...
Before you invest in any kind of real estate, you’ll want to make sure that the title to the property is defect-free. A defect is anything that could affect the ability of the property to be fully and legally transferred to the new owner. They’re also called “clouds”...
The title records for a property determine its owner and also who might have some financial rights protected by the property's value. Unfortunately for those who own real property in California, blemishes on their title records can quickly complicate real estate...
When someone dies, numerous parties will feel the effect of their passing. Those with direct personal relationships obviously experience the most profound impact, but those with a professional or financial relationship with the deceased party could also worry about...
It is difficult for older adults to properly address real estate in their estate plans. Although the homes where they live may be among their most valuable property, the sentimental value of the home may lead to someone’s desire for loved ones to live there rather...