Ten Estate Planning Myths

A WILL AVOIDS PROBATE

Actually the opposite is true, if you have a Will the only way it is given effect is through the Probate Court. Having a Will insures that your property will pass according to your wishes, but it will be handled in the Probate Court. It allows you to name who will handle your estate, specify who will get your assets, and under what terms. With a properly drafted Will, you can benefit children or grandchildren, set money aside for college, benefit charities, and leave assets to children (or others) with protection from their creditors. (more…)

Can you inherit a family member’s credit card debt?

If a relative dies with credit card debt, you may hear from the credit card company regarding the  unpaid balance. The lawyers of Fiore & Barber, LLC are experienced in estate administration and handling these types of matters. Here are a few ways to minimize the cost.

When an individual dies, his or her estate may be required to pay all credit card balances and other debts. However, if a person dies with more debts than assets, creditors, including credit card companies can be out of luck — and they often are. (more…)

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