This Wall Street Journal Article discusses the choices now available for your Facebook account when you die. You can finally decide what happens to your Facebook account when you die. In a change of heart, the world’s most popular social network will begin allowing its members to designate someone—what they call a “legacy contact”—to manage … More What Happens to Your Facebook Account When You Die?
One of the main goals in estate planning is to provide for a clear and efficient way to distribute assets upon your death. This process can become much more frustrating for your family if they are unable to access your online account information with your banks, stock brokers, etc. Thus, it is a good idea … More Estate Planning Tip: Write Down those Usernames and Passwords.
Most of the time when you read about celebrities and their estate plans it is to point out something they may have done wrong, but today I am pleased to report that based on preliminary reports from TMZ, Robin Williams may have made the right moves in his estate planning by establishing a revocable trust … More Robin Williams’s Estate Plan: He got it right.
Many clients will call me and request an appointment to transfer the deed to their home to their children as they begin to worry about medical issues that may end up depleting the value of their home if it remains in their names. Others just want to transfer the home now so as to avoid … More Should I Transfer My Home to My Children?
Many clients consider setting up a Revocable Family Trust and complete a deed transfer of their home to the Trust for estate planning purposes. When your home is a Co-op, their are some additional considerations since the Board must approve any transfer of ownership. This recent article from The Cooperator suggests why many Boards should … More Can I transfer my Co-op to a Family Trust?
A power of attorney is a legal document that grants authority to another person to administer all or some of your affairs. The person who grants the power of attorney is known as the principal, and the person who takes over the authority is known as the agent. Each state has its own power of … More Does Power of Attorney End upon Death?
For an adult child, the death of a parent is a very stressful time. Finding out that Mom or Dad had some large outstanding debts makes this an even more stressful time. This CNN Money article deals with the questions of responsibility for these debts. Unless you cosigned one of your parent’s loans or accounts, … More Can you inherit your dead parent’s debts?