Entries by Steve

What to Expect as an Executor or Trustee (Wells Fargo)

Being asked to serve as an executor or a trustee for a family member’s estate is certainly an honor, but it’s also a considerable responsibility. Knowing and understanding your responsibilities — and asking the right questions — can help you be prepared. Here are five things you need to know now if you’ve been asked […]

Pre-Paid Funeral Plans: Buyer Beware | Chambliss, Bahner & Stophel, P.C. – JDSupra

Funerals rank among the most expensive purchases many consumers will ever make. A traditional funeral costs about $7,000, although “extras” like flowers, obituary notices, acknowledgment cards and limousines can bring the total to well over $10,000. Moreover, people often “overspend” on a funeral or burial because they think of it as a reflection of their […]

Tax Treatment of Canceled Mortgage Debt (thebalance.com)

Mortgage debt may qualify to be excluded from income under the Mortgage Forgiveness Debt Relief Act. This law provides that certain types of canceled mortgage debt can be excluded from taxes. This exclusion is important for people whose homes have been foreclosed, or who sold their house short, or who restructured their mortgage. Read the […]

LEGALZOOM:  Recordkeeping for LLCs — What Do You Need to Save?

You may have heard that limited liability companies, or LLCs, have fewer recordkeeping requirements than corporations. But if you have formed an LLC, you might now be wondering exactly what those requirements are. Your state’s LLC laws may list certain documents and information that LLCs must keep at their headquarters. But the documents you must […]

NYSBA | The Digital Footprint After Death:  WHO WEARS THE SHOES?

Email, Facebook, LinkedIn, Twitter, Instagram, Snapchat, Tumbler, online banking, online shopping, and other forms of electronic communications, comprise our digital footprint. They are seemingly ubiquitous and omnipresent in the life of our business, social, and personal affairs. But, on death, who has the right of access to a decedent’s digital footprint? More importantly, what is […]