The federal estate tax is a tax on property that passes from a deceased person’s estate to their heirs. This tax affects only the wealthiest families in America.
If the individual owed money during his or her life, then that debt remains, and it is the responsibility of the decedent’s estate to pay that debt.
The cardinal rule of asset protection is that the planning must be put into place well before there is a claim against you or any of your assets.
If you believe that your elderly loved one is the victim of abuse, you should contact a qualified elder law attorney immediately to discuss your options.
Many of our clients initially contact us asking us to check if their property is subject to a moratorium. What the client really is asking is whether their property is located in a “moratorium district.”
Contesting a will is not usually a simple matter. There are, however, some specific legal grounds for contesting a will that can be used successfully.