Inherited Debts and Estate Planning: Managing Financial Legacies

We’ve all heard the stories of families who suddenly find themselves struggling with not only grief, but also crippling debt when a loved one passes away without having a will. Open communication and estate planning with an experienced law team is a great way to ensure that you are protected and they can help you navigate the endless steps that need to be taken in the event you find yourself in this type of difficult situation.

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If this does happen to you, contact us at 914-600-5502 or visit our contact page. At a time like this, you need a professional attorney who can immediately provide assistance to you and other family members and prevent this from happening in the future.

The Effects of Not Having a Will

There are far reaching implications of not having a Will. Without a clear understanding of the different laws that can affect the debt obligations of close relatives in the event of your untimely death, you could unknowingly cause a long term financial impact on your relatives.

Understand Your Debt Obligations

Guidance on the immediate steps that need to be taken should a family member die without a Will and how to avoid the crippling debt that can often occur as a result.

Do you Need to Set Up a Trust?

Most people don’t realize that putting a trust in place can prevent financial disaster down the road. There are different kinds of trusts, but they are an ideal way to secure your finances and protect family members in the event of your death.

 
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