Storing Passwords in Case of Death
February 7, 2022
Deborah Placet had no idea how to access her husband’s cryptocurrency and other digital accounts after his unexpected death at age 52.
Deborah Placet had no idea how to access her husband’s cryptocurrency and other digital accounts after his unexpected death at age 52.
Part of being a responsible homeowner is having a proper estate plan in place. After all, considering the home is generally the largest asset most people own, it’s prudent to ensure this asset is passed to the people you wish to leave it to.
Without a valid will, a person’s estate passes to their surviving heirs under intestate succession (e.g., ‘succession without a will’).
If you are retired and no longer generating employment income, you should make sure you weigh the financial implications of any potential move.
For young professionals finding their way in the world and just beginning the journey of building wealth, death can seem like a far-off abstraction. However, the cold reality is that no one ever knows what’s around the corner — health problems and freak accidents can happen at virtually any time.
Despite the various proposals to lower federal transfer tax (estate, gift and GST taxes) exemptions and increase the tax rates, none of them were enacted in 2021.
In general, the best reason to establish a charitable trust, is if you would like to create a long-standing form of charitable giving.
Revocable Living Trusts have become a widely used estate planning document, providing a path to managing assets, avoiding probate and gaining privacy at the settlement of an estate.
If a loved one asks you to be the executor of their estate, think carefully before you take on this responsibility.
Do you have to pay taxes on inheritance?
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