What Happens If a Deceased Individual Owes Taxes?
Ty McDuffey
January 31, 2023
|
The intelligent digital vault for families
Trustworthy protects and optimizes important family information so you can save time, money, and enjoy peace of mind
Taxes are probably the last thing on your mind following the loss of a loved one, but bills do not go away. They must be addressed as soon as possible to avoid unanticipated financial effects.
If a deceased individual owes taxes, the IRS may pursue the estate until the unpaid amounts are paid. The Collection Statute Expiration Date (CSED) for tax collection is around ten years, meaning the IRS can continue to pursue the estate for that time.
It is common for the deceased to have outstanding tax liabilities at the time of their death. Fortunately, there are a few things you can do to make the process of paying off a loved one's taxes as easy as possible.
Key Takeaways:
Executors are frequently required to submit a final tax return plus an estate tax return, including any inheritance or estate taxes.
You can file a joint tax return as a surviving spouse for the final year your spouse was alive.
Before you begin, try to find all Form 1040s, W-2s, and 1099s as though you were filing your own taxes.
Notice: Please keep in mind that this is general advice and shouldn’t be construed as particular monetary or tax advice. You should consult with a lawyer or a tax consultant if you have particular questions.
Who Is Responsible for Paying a Deceased Person's Taxes?
Typically, the person responsible for paying tariffs on behalf of a deceased individual is identified in the estate plan. This individual will be in charge of the estate's settlement and will have access to the information and accounts required to pay the unpaid taxes.
They will also be responsible for organizing any refunds that may be necessary.
There are several approaches to managing this task depending on the situation:
The Administrator of the Estate is usually responsible for managing outstanding costs, closing relevant accounts, and distributing inheritances as stated. Therefore, they might be put in charge of paying a deceased person's taxes.
An Appointed Legal Representative may handle the deceased's tax issues. This might be a family or estate planning attorney. They will also have access to financial information and will be able to deal with owed taxes quickly.
If the dead were married, the surviving spouse might also assume tax responsibilities, especially if they filed jointly for the year.
It should be noted that taxes for the year of death and maybe the preceding year can be submitted jointly (if the death occurred before taxes were filed). This would need to be included in the tax filing by the surviving spouse.
The obligation usually falls on a loved one or the next of kin in the absence of an estate plan, a spouse, or an appointed legal representative.
What Happens if You Don't File Taxes for a Deceased Individual?
If you do not file taxes for a deceased person, the IRS can take legal action against the estate by putting a federal lien on it. This basically implies that you must pay your federal taxes before you may close any other obligations or accounts. If not, the IRS can require that the deceased's legal representative pay the taxes.
Funeral expenditures and accompanying administrative charges are exempt and can be paid before any unpaid taxes on behalf of the deceased.
If the decedent owed taxes for several years, you could work with the IRS to demonstrate that you were unaware of the outstanding sums. Typically, this will need the assistance of a tax planning lawyer or CPA.
Which Assets Are Protected from the IRS?
Some assets in an estate are exempt from debt, including tax debt.
Life Insurance Benefits
These benefits are paid immediately to the listed recipients and are not subject to probate.
Unless the beneficiary additionally consented to be accountable for the obligation, the benefits are free from the debt. If a couple owes taxes and one of them dies while naming the other in a life insurance policy, a portion of the life insurance benefit will be due to the tax liability.
401(k) Retirement Account
The assets in a 401K investment account are usually excluded from IRS taxation.
When the account is opened, the account holder names a beneficiary, and the assets in the 401K flow straight to the beneficiary without going through probate. The only exception is if the 401K owner owes child support.
Are Beneficiaries Liable for the Deceased's Debts?
Beneficiaries are not liable for debts left by the dead, and creditors cannot regard them as such under the law.
Furthermore, because these monies flow directly to the beneficiary and do not pass through probate, eligible retirement accounts, life insurance profits, and funds put in certain types of trusts do not have to be utilized to pay for the decedent's debts.
What Is the Estate Administrator's Role in Paying the Deceased's Taxes?
When someone dies, an heir or executor of the estate may petition the court to settle the inheritance. You are entitled to act on behalf of the deceased after an estate administrator is legally appointed.
As a result, you must gather all assets (cash, bank accounts, titles, personal property, etc.) and settle obligations with creditors. It is critical to note that assets cannot be distributed to heirs until the debt is settled.
In terms of taxes, the administrator is responsible for filing any unfiled returns with the IRS.
Furthermore, the administrator must pay back taxes before the debt is totally erased.
The job of an estate administrator is time-consuming and difficult. As a result, it may be in your best interest to seek aid when dealing with the IRS, which will not relent even if the original taxpayer is deceased.
What Is the Difference Between Estate Tax and Inheritance Tax?
In addition to addressing the deceased's tax obligation, heirs may have financial difficulties due to an inheritance.
The IRS taxes inheritances in two ways: first, as a lump sum, and second, as a lump sum.
Inheritance Tax
An inheritance tax is a tax on receiving assets from a deceased person.
In general, inheritance is not considered income for federal tax purposes; therefore, you do not need to declare it. However, depending on where you live, you may be taxed at the state level.
Estate Tax
Estate taxes are paid from the deceased's estate, whereas inheritance taxes are paid from the beneficiary's pocket. The federal government collects 40% inheritance taxes on estates worth more than $12.06 million.
Depending on your specific situation, you may need to cover inheritance tax, estate tax, or both.
Do I Need to Save the Deceased’s Tax Documentation?
Since the IRS has the authority to audit a dead person's returns for up to 6 years after filing, it wants you to save any tax paperwork required to settle any financial or legal concerns that may emerge during the process.
For instance, you should retain documents of the deceased's evidence of income, such as W-2s and 1099s.
The IRS may request verification for costs such as:
Medical expenses
Charitable contributions
Property taxes
Contributions to a retirement plan
Keep these documents for up to 7 years before shredding and disposing of them.
Even after 7 years, you may need clarification on whether trashing and discarding these materials are safe. Before doing so, you should speak with a tax specialist who can evaluate the records and assess if it is okay to get rid of them.
What Should I Know About Submitting a Final Tax Return?
If a person does not remarry during the year in which their spouse died, the IRS deems them to have been married for the whole year.
The living spouse may file as married filing separately or married filing jointly.
Unless the surviving spouse receives an extension, the tax return is due by the usual tax date in April.
Who Needs to Sign the Final Tax Return Form?
When filing online, the surviving spouse/representative needs to obey the software's instructions for the proper signature and inscription requirements. The filer should put the term “dead,” the dead individual’s name, and the date of passing on the top of paper returns.
The following people should also sign the final tax return:
Any authorized representatives
If no chosen representative is named, the surviving spouse submitting a joint return should fill out the form and put "filing as surviving spouse" in the signature field.
If no designated representative is named and there is no living spouse, the individual in charge of the deceased individual's property must submit and sign the final tax return as a "personal representative."
What Are the Qualifications for a Widow or Widower?
Surviving spouses who have dependent kids may be entitled to file as a Qualifying Widow for 2 years following their spouse's passing. If they do not itemize deductions, this tax status permits them to take advantage of joint return tax rates, plus the largest standard deduction.
How Do I File Taxes for a Deceased Person Who Has No Estate?
Typically, the executor of an estate is responsible for filing taxes on behalf of the deceased.
However, not everyone dies with an estate in place.
A surviving family member should manage tax liabilities if no executor has been nominated.
Nevertheless, the tax position might get complicated when there is no estate.
If you are the representative of the deceased, you may be responsible for paying back taxes. It may be necessary to contact the IRS to get tax data dating back a few years to ascertain what is owed.
Here are some of the various taxes that may have to be paid:
Federal income taxes
State taxes
Local taxes
Taxes on self-employment
Taxes on business
How to File a Deceased Person's Taxes Step by Step
To file a deceased person's taxes, simply follow the instructions outlined below.
Step 1: Contact the IRS and Collect the Required Info
When a person dies, their will is not automatically carried out.
Beneficiaries receive their portion after going through a thorough probate process.
The initial stage in this process is to pay the deceased's taxes and obligations. This stage, however, needs you to have all of the deceased's account details.
If you don't have access to the deceased's records, you must seek them from the IRS. The IRS requires that anybody requesting such information be a close relative of the deceased.
You'll need a few documents to confirm your relationship to access the deceased's financial records. In most circumstances, the IRS requests the following documents:
The deceased's name, SSN, and full address
A copy of the dead person's death certificate
A copy of the court's letter of testamentary granted to you
A copy of IRS Form 56 demonstrating your link to the dead
The deceased's tax returns report
Step 2: Decide on an Estate Administrator for the Deceased
As previously indicated, the dead frequently nominate the estate executor during their lives.
However, you must also select an estate administrator to represent all of the deceased's assets. Only when you've chosen an estate administrator will you be allowed to deal with the taxes.
Estate administrators often include:
Close relatives
Spouses
Children
Siblings
An estate administrator has the following tasks once appointed:
Accounting for all of the deceased's assets, property, and money
Settling all of the deceased's debts
Claiming money that the deceased may have loaned to someone during their lifetime
Distributing the remainder of the assets to the beneficiaries in accordance with the law or the deceased's will
Filling out IRS forms 1040 and 1041 for all taxes and returns for the dead.
Step 3: Returning Money to Creditors
Once an estate administrator is appointed, they must begin by contacting all of the persons to whom the deceased owes money. You must notify all of your loved one's creditors of their death.
These creditors must then reply to the petition within three months with proof of claim. This evidence of claim will include the precise amount due by the deceased. This evidence of claim also includes documentation indicating that the sender loaned money to the dead.
Step 4: Filing Income Tax Returns for the Deceased
After you've paid back all of the deceased's debts, you must submit their final tax returns.
The tax return process for a deceased individual is the same as for a live one. As a result, you must declare everything they earned up to their death on their tax return filing.
As an estate administrator, you must act with caution in this phase. Check to see if the deceased paid their taxes for past years. If they haven't, you must do it for them as well.
Step 5: File Estate Income Tax Returns for the Deceased
Aside from the income tax, an estate administrator must also file a tax for the transfer of the deceased's inheritance to their heirs. There is also a tax on the revenue earned by the deceased's assets.
Among these assets are:
The deceased's property
Investments in mutual funds
Stocks
Bonds
Step 6: Get Rid of the Federal Estate Tax Lien
In many circumstances, the heirs may choose to sell some of the property they have inherited. However, no one can sell the deceased person's property without the state's permission.
The IRS frequently imposes a lien estate tax on the deceased's assets from the moment they die.
This lien tax prevents the deceased's heirs from selling any of the deceased's property until all taxes and obligations are paid. If you want to sell the deceased's property after you've paid all of the taxes, you must first discharge the lien.
The discharge procedure is straightforward. You simply need to fill out IRS Form 4422 to request a discharge lien certification. A copy of the deceased's will and any papers connected to the sale of the decedent's property must be included in addition to this form.
You may sell the deceased's property once the lien taxes are discharged without the IRS demanding anything from you.
Who Will Receive a Tax Refund from a Deceased Person?
If a deceased individual is eligible for a tax return, the refund will be sent to the deceased person's Executor or personal representative. They have been given permission to sign the check into the estate bank account.
At that time, the money will be handled in the same manner as the rest of the cash in the estate.
How Can Trustworthy Help?
Nobody wants to think about what would happen if a deceased person owes taxes. However, this is a reality that you may face if a family member dies with unpaid IRS bills.
Even if you regularly manage your own taxes without trouble, filing taxes after someone has died can be a difficult task. In fact, it is one of the most difficult tax circumstances a person may face. This is why having all of your deceased's estate planning documents in one place is crucial.
At Trustworthy, we assist clients in completing any outstanding tax responsibilities left by loved ones by providing a cloud-based platform where all estate planning and tax documents can be stored and shared safely.
Having all of your family's tax documents in one place helps you guarantee that no unfiled tax returns or outstanding obligations are overlooked.
Click here to start your free 14-day trial today.
What Happens If a Deceased Individual Owes Taxes?
Ty McDuffey
January 31, 2023
|
Taxes are probably the last thing on your mind following the loss of a loved one, but bills do not go away. They must be addressed as soon as possible to avoid unanticipated financial effects.
If a deceased individual owes taxes, the IRS may pursue the estate until the unpaid amounts are paid. The Collection Statute Expiration Date (CSED) for tax collection is around ten years, meaning the IRS can continue to pursue the estate for that time.
It is common for the deceased to have outstanding tax liabilities at the time of their death. Fortunately, there are a few things you can do to make the process of paying off a loved one's taxes as easy as possible.
Key Takeaways:
Executors are frequently required to submit a final tax return plus an estate tax return, including any inheritance or estate taxes.
You can file a joint tax return as a surviving spouse for the final year your spouse was alive.
Before you begin, try to find all Form 1040s, W-2s, and 1099s as though you were filing your own taxes.
Notice: Please keep in mind that this is general advice and shouldn’t be construed as particular monetary or tax advice. You should consult with a lawyer or a tax consultant if you have particular questions.
Who Is Responsible for Paying a Deceased Person's Taxes?
Typically, the person responsible for paying tariffs on behalf of a deceased individual is identified in the estate plan. This individual will be in charge of the estate's settlement and will have access to the information and accounts required to pay the unpaid taxes.
They will also be responsible for organizing any refunds that may be necessary.
There are several approaches to managing this task depending on the situation:
The Administrator of the Estate is usually responsible for managing outstanding costs, closing relevant accounts, and distributing inheritances as stated. Therefore, they might be put in charge of paying a deceased person's taxes.
An Appointed Legal Representative may handle the deceased's tax issues. This might be a family or estate planning attorney. They will also have access to financial information and will be able to deal with owed taxes quickly.
If the dead were married, the surviving spouse might also assume tax responsibilities, especially if they filed jointly for the year.
It should be noted that taxes for the year of death and maybe the preceding year can be submitted jointly (if the death occurred before taxes were filed). This would need to be included in the tax filing by the surviving spouse.
The obligation usually falls on a loved one or the next of kin in the absence of an estate plan, a spouse, or an appointed legal representative.
What Happens if You Don't File Taxes for a Deceased Individual?
If you do not file taxes for a deceased person, the IRS can take legal action against the estate by putting a federal lien on it. This basically implies that you must pay your federal taxes before you may close any other obligations or accounts. If not, the IRS can require that the deceased's legal representative pay the taxes.
Funeral expenditures and accompanying administrative charges are exempt and can be paid before any unpaid taxes on behalf of the deceased.
If the decedent owed taxes for several years, you could work with the IRS to demonstrate that you were unaware of the outstanding sums. Typically, this will need the assistance of a tax planning lawyer or CPA.
Which Assets Are Protected from the IRS?
Some assets in an estate are exempt from debt, including tax debt.
Life Insurance Benefits
These benefits are paid immediately to the listed recipients and are not subject to probate.
Unless the beneficiary additionally consented to be accountable for the obligation, the benefits are free from the debt. If a couple owes taxes and one of them dies while naming the other in a life insurance policy, a portion of the life insurance benefit will be due to the tax liability.
401(k) Retirement Account
The assets in a 401K investment account are usually excluded from IRS taxation.
When the account is opened, the account holder names a beneficiary, and the assets in the 401K flow straight to the beneficiary without going through probate. The only exception is if the 401K owner owes child support.
Are Beneficiaries Liable for the Deceased's Debts?
Beneficiaries are not liable for debts left by the dead, and creditors cannot regard them as such under the law.
Furthermore, because these monies flow directly to the beneficiary and do not pass through probate, eligible retirement accounts, life insurance profits, and funds put in certain types of trusts do not have to be utilized to pay for the decedent's debts.
What Is the Estate Administrator's Role in Paying the Deceased's Taxes?
When someone dies, an heir or executor of the estate may petition the court to settle the inheritance. You are entitled to act on behalf of the deceased after an estate administrator is legally appointed.
As a result, you must gather all assets (cash, bank accounts, titles, personal property, etc.) and settle obligations with creditors. It is critical to note that assets cannot be distributed to heirs until the debt is settled.
In terms of taxes, the administrator is responsible for filing any unfiled returns with the IRS.
Furthermore, the administrator must pay back taxes before the debt is totally erased.
The job of an estate administrator is time-consuming and difficult. As a result, it may be in your best interest to seek aid when dealing with the IRS, which will not relent even if the original taxpayer is deceased.
What Is the Difference Between Estate Tax and Inheritance Tax?
In addition to addressing the deceased's tax obligation, heirs may have financial difficulties due to an inheritance.
The IRS taxes inheritances in two ways: first, as a lump sum, and second, as a lump sum.
Inheritance Tax
An inheritance tax is a tax on receiving assets from a deceased person.
In general, inheritance is not considered income for federal tax purposes; therefore, you do not need to declare it. However, depending on where you live, you may be taxed at the state level.
Estate Tax
Estate taxes are paid from the deceased's estate, whereas inheritance taxes are paid from the beneficiary's pocket. The federal government collects 40% inheritance taxes on estates worth more than $12.06 million.
Depending on your specific situation, you may need to cover inheritance tax, estate tax, or both.
Do I Need to Save the Deceased’s Tax Documentation?
Since the IRS has the authority to audit a dead person's returns for up to 6 years after filing, it wants you to save any tax paperwork required to settle any financial or legal concerns that may emerge during the process.
For instance, you should retain documents of the deceased's evidence of income, such as W-2s and 1099s.
The IRS may request verification for costs such as:
Medical expenses
Charitable contributions
Property taxes
Contributions to a retirement plan
Keep these documents for up to 7 years before shredding and disposing of them.
Even after 7 years, you may need clarification on whether trashing and discarding these materials are safe. Before doing so, you should speak with a tax specialist who can evaluate the records and assess if it is okay to get rid of them.
What Should I Know About Submitting a Final Tax Return?
If a person does not remarry during the year in which their spouse died, the IRS deems them to have been married for the whole year.
The living spouse may file as married filing separately or married filing jointly.
Unless the surviving spouse receives an extension, the tax return is due by the usual tax date in April.
Who Needs to Sign the Final Tax Return Form?
When filing online, the surviving spouse/representative needs to obey the software's instructions for the proper signature and inscription requirements. The filer should put the term “dead,” the dead individual’s name, and the date of passing on the top of paper returns.
The following people should also sign the final tax return:
Any authorized representatives
If no chosen representative is named, the surviving spouse submitting a joint return should fill out the form and put "filing as surviving spouse" in the signature field.
If no designated representative is named and there is no living spouse, the individual in charge of the deceased individual's property must submit and sign the final tax return as a "personal representative."
What Are the Qualifications for a Widow or Widower?
Surviving spouses who have dependent kids may be entitled to file as a Qualifying Widow for 2 years following their spouse's passing. If they do not itemize deductions, this tax status permits them to take advantage of joint return tax rates, plus the largest standard deduction.
How Do I File Taxes for a Deceased Person Who Has No Estate?
Typically, the executor of an estate is responsible for filing taxes on behalf of the deceased.
However, not everyone dies with an estate in place.
A surviving family member should manage tax liabilities if no executor has been nominated.
Nevertheless, the tax position might get complicated when there is no estate.
If you are the representative of the deceased, you may be responsible for paying back taxes. It may be necessary to contact the IRS to get tax data dating back a few years to ascertain what is owed.
Here are some of the various taxes that may have to be paid:
Federal income taxes
State taxes
Local taxes
Taxes on self-employment
Taxes on business
How to File a Deceased Person's Taxes Step by Step
To file a deceased person's taxes, simply follow the instructions outlined below.
Step 1: Contact the IRS and Collect the Required Info
When a person dies, their will is not automatically carried out.
Beneficiaries receive their portion after going through a thorough probate process.
The initial stage in this process is to pay the deceased's taxes and obligations. This stage, however, needs you to have all of the deceased's account details.
If you don't have access to the deceased's records, you must seek them from the IRS. The IRS requires that anybody requesting such information be a close relative of the deceased.
You'll need a few documents to confirm your relationship to access the deceased's financial records. In most circumstances, the IRS requests the following documents:
The deceased's name, SSN, and full address
A copy of the dead person's death certificate
A copy of the court's letter of testamentary granted to you
A copy of IRS Form 56 demonstrating your link to the dead
The deceased's tax returns report
Step 2: Decide on an Estate Administrator for the Deceased
As previously indicated, the dead frequently nominate the estate executor during their lives.
However, you must also select an estate administrator to represent all of the deceased's assets. Only when you've chosen an estate administrator will you be allowed to deal with the taxes.
Estate administrators often include:
Close relatives
Spouses
Children
Siblings
An estate administrator has the following tasks once appointed:
Accounting for all of the deceased's assets, property, and money
Settling all of the deceased's debts
Claiming money that the deceased may have loaned to someone during their lifetime
Distributing the remainder of the assets to the beneficiaries in accordance with the law or the deceased's will
Filling out IRS forms 1040 and 1041 for all taxes and returns for the dead.
Step 3: Returning Money to Creditors
Once an estate administrator is appointed, they must begin by contacting all of the persons to whom the deceased owes money. You must notify all of your loved one's creditors of their death.
These creditors must then reply to the petition within three months with proof of claim. This evidence of claim will include the precise amount due by the deceased. This evidence of claim also includes documentation indicating that the sender loaned money to the dead.
Step 4: Filing Income Tax Returns for the Deceased
After you've paid back all of the deceased's debts, you must submit their final tax returns.
The tax return process for a deceased individual is the same as for a live one. As a result, you must declare everything they earned up to their death on their tax return filing.
As an estate administrator, you must act with caution in this phase. Check to see if the deceased paid their taxes for past years. If they haven't, you must do it for them as well.
Step 5: File Estate Income Tax Returns for the Deceased
Aside from the income tax, an estate administrator must also file a tax for the transfer of the deceased's inheritance to their heirs. There is also a tax on the revenue earned by the deceased's assets.
Among these assets are:
The deceased's property
Investments in mutual funds
Stocks
Bonds
Step 6: Get Rid of the Federal Estate Tax Lien
In many circumstances, the heirs may choose to sell some of the property they have inherited. However, no one can sell the deceased person's property without the state's permission.
The IRS frequently imposes a lien estate tax on the deceased's assets from the moment they die.
This lien tax prevents the deceased's heirs from selling any of the deceased's property until all taxes and obligations are paid. If you want to sell the deceased's property after you've paid all of the taxes, you must first discharge the lien.
The discharge procedure is straightforward. You simply need to fill out IRS Form 4422 to request a discharge lien certification. A copy of the deceased's will and any papers connected to the sale of the decedent's property must be included in addition to this form.
You may sell the deceased's property once the lien taxes are discharged without the IRS demanding anything from you.
Who Will Receive a Tax Refund from a Deceased Person?
If a deceased individual is eligible for a tax return, the refund will be sent to the deceased person's Executor or personal representative. They have been given permission to sign the check into the estate bank account.
At that time, the money will be handled in the same manner as the rest of the cash in the estate.
How Can Trustworthy Help?
Nobody wants to think about what would happen if a deceased person owes taxes. However, this is a reality that you may face if a family member dies with unpaid IRS bills.
Even if you regularly manage your own taxes without trouble, filing taxes after someone has died can be a difficult task. In fact, it is one of the most difficult tax circumstances a person may face. This is why having all of your deceased's estate planning documents in one place is crucial.
At Trustworthy, we assist clients in completing any outstanding tax responsibilities left by loved ones by providing a cloud-based platform where all estate planning and tax documents can be stored and shared safely.
Having all of your family's tax documents in one place helps you guarantee that no unfiled tax returns or outstanding obligations are overlooked.
Click here to start your free 14-day trial today.
What Happens If a Deceased Individual Owes Taxes?
Ty McDuffey
January 31, 2023
|
The intelligent digital vault for families
Trustworthy protects and optimizes important family information so you can save time, money, and enjoy peace of mind
Taxes are probably the last thing on your mind following the loss of a loved one, but bills do not go away. They must be addressed as soon as possible to avoid unanticipated financial effects.
If a deceased individual owes taxes, the IRS may pursue the estate until the unpaid amounts are paid. The Collection Statute Expiration Date (CSED) for tax collection is around ten years, meaning the IRS can continue to pursue the estate for that time.
It is common for the deceased to have outstanding tax liabilities at the time of their death. Fortunately, there are a few things you can do to make the process of paying off a loved one's taxes as easy as possible.
Key Takeaways:
Executors are frequently required to submit a final tax return plus an estate tax return, including any inheritance or estate taxes.
You can file a joint tax return as a surviving spouse for the final year your spouse was alive.
Before you begin, try to find all Form 1040s, W-2s, and 1099s as though you were filing your own taxes.
Notice: Please keep in mind that this is general advice and shouldn’t be construed as particular monetary or tax advice. You should consult with a lawyer or a tax consultant if you have particular questions.
Who Is Responsible for Paying a Deceased Person's Taxes?
Typically, the person responsible for paying tariffs on behalf of a deceased individual is identified in the estate plan. This individual will be in charge of the estate's settlement and will have access to the information and accounts required to pay the unpaid taxes.
They will also be responsible for organizing any refunds that may be necessary.
There are several approaches to managing this task depending on the situation:
The Administrator of the Estate is usually responsible for managing outstanding costs, closing relevant accounts, and distributing inheritances as stated. Therefore, they might be put in charge of paying a deceased person's taxes.
An Appointed Legal Representative may handle the deceased's tax issues. This might be a family or estate planning attorney. They will also have access to financial information and will be able to deal with owed taxes quickly.
If the dead were married, the surviving spouse might also assume tax responsibilities, especially if they filed jointly for the year.
It should be noted that taxes for the year of death and maybe the preceding year can be submitted jointly (if the death occurred before taxes were filed). This would need to be included in the tax filing by the surviving spouse.
The obligation usually falls on a loved one or the next of kin in the absence of an estate plan, a spouse, or an appointed legal representative.
What Happens if You Don't File Taxes for a Deceased Individual?
If you do not file taxes for a deceased person, the IRS can take legal action against the estate by putting a federal lien on it. This basically implies that you must pay your federal taxes before you may close any other obligations or accounts. If not, the IRS can require that the deceased's legal representative pay the taxes.
Funeral expenditures and accompanying administrative charges are exempt and can be paid before any unpaid taxes on behalf of the deceased.
If the decedent owed taxes for several years, you could work with the IRS to demonstrate that you were unaware of the outstanding sums. Typically, this will need the assistance of a tax planning lawyer or CPA.
Which Assets Are Protected from the IRS?
Some assets in an estate are exempt from debt, including tax debt.
Life Insurance Benefits
These benefits are paid immediately to the listed recipients and are not subject to probate.
Unless the beneficiary additionally consented to be accountable for the obligation, the benefits are free from the debt. If a couple owes taxes and one of them dies while naming the other in a life insurance policy, a portion of the life insurance benefit will be due to the tax liability.
401(k) Retirement Account
The assets in a 401K investment account are usually excluded from IRS taxation.
When the account is opened, the account holder names a beneficiary, and the assets in the 401K flow straight to the beneficiary without going through probate. The only exception is if the 401K owner owes child support.
Are Beneficiaries Liable for the Deceased's Debts?
Beneficiaries are not liable for debts left by the dead, and creditors cannot regard them as such under the law.
Furthermore, because these monies flow directly to the beneficiary and do not pass through probate, eligible retirement accounts, life insurance profits, and funds put in certain types of trusts do not have to be utilized to pay for the decedent's debts.
What Is the Estate Administrator's Role in Paying the Deceased's Taxes?
When someone dies, an heir or executor of the estate may petition the court to settle the inheritance. You are entitled to act on behalf of the deceased after an estate administrator is legally appointed.
As a result, you must gather all assets (cash, bank accounts, titles, personal property, etc.) and settle obligations with creditors. It is critical to note that assets cannot be distributed to heirs until the debt is settled.
In terms of taxes, the administrator is responsible for filing any unfiled returns with the IRS.
Furthermore, the administrator must pay back taxes before the debt is totally erased.
The job of an estate administrator is time-consuming and difficult. As a result, it may be in your best interest to seek aid when dealing with the IRS, which will not relent even if the original taxpayer is deceased.
What Is the Difference Between Estate Tax and Inheritance Tax?
In addition to addressing the deceased's tax obligation, heirs may have financial difficulties due to an inheritance.
The IRS taxes inheritances in two ways: first, as a lump sum, and second, as a lump sum.
Inheritance Tax
An inheritance tax is a tax on receiving assets from a deceased person.
In general, inheritance is not considered income for federal tax purposes; therefore, you do not need to declare it. However, depending on where you live, you may be taxed at the state level.
Estate Tax
Estate taxes are paid from the deceased's estate, whereas inheritance taxes are paid from the beneficiary's pocket. The federal government collects 40% inheritance taxes on estates worth more than $12.06 million.
Depending on your specific situation, you may need to cover inheritance tax, estate tax, or both.
Do I Need to Save the Deceased’s Tax Documentation?
Since the IRS has the authority to audit a dead person's returns for up to 6 years after filing, it wants you to save any tax paperwork required to settle any financial or legal concerns that may emerge during the process.
For instance, you should retain documents of the deceased's evidence of income, such as W-2s and 1099s.
The IRS may request verification for costs such as:
Medical expenses
Charitable contributions
Property taxes
Contributions to a retirement plan
Keep these documents for up to 7 years before shredding and disposing of them.
Even after 7 years, you may need clarification on whether trashing and discarding these materials are safe. Before doing so, you should speak with a tax specialist who can evaluate the records and assess if it is okay to get rid of them.
What Should I Know About Submitting a Final Tax Return?
If a person does not remarry during the year in which their spouse died, the IRS deems them to have been married for the whole year.
The living spouse may file as married filing separately or married filing jointly.
Unless the surviving spouse receives an extension, the tax return is due by the usual tax date in April.
Who Needs to Sign the Final Tax Return Form?
When filing online, the surviving spouse/representative needs to obey the software's instructions for the proper signature and inscription requirements. The filer should put the term “dead,” the dead individual’s name, and the date of passing on the top of paper returns.
The following people should also sign the final tax return:
Any authorized representatives
If no chosen representative is named, the surviving spouse submitting a joint return should fill out the form and put "filing as surviving spouse" in the signature field.
If no designated representative is named and there is no living spouse, the individual in charge of the deceased individual's property must submit and sign the final tax return as a "personal representative."
What Are the Qualifications for a Widow or Widower?
Surviving spouses who have dependent kids may be entitled to file as a Qualifying Widow for 2 years following their spouse's passing. If they do not itemize deductions, this tax status permits them to take advantage of joint return tax rates, plus the largest standard deduction.
How Do I File Taxes for a Deceased Person Who Has No Estate?
Typically, the executor of an estate is responsible for filing taxes on behalf of the deceased.
However, not everyone dies with an estate in place.
A surviving family member should manage tax liabilities if no executor has been nominated.
Nevertheless, the tax position might get complicated when there is no estate.
If you are the representative of the deceased, you may be responsible for paying back taxes. It may be necessary to contact the IRS to get tax data dating back a few years to ascertain what is owed.
Here are some of the various taxes that may have to be paid:
Federal income taxes
State taxes
Local taxes
Taxes on self-employment
Taxes on business
How to File a Deceased Person's Taxes Step by Step
To file a deceased person's taxes, simply follow the instructions outlined below.
Step 1: Contact the IRS and Collect the Required Info
When a person dies, their will is not automatically carried out.
Beneficiaries receive their portion after going through a thorough probate process.
The initial stage in this process is to pay the deceased's taxes and obligations. This stage, however, needs you to have all of the deceased's account details.
If you don't have access to the deceased's records, you must seek them from the IRS. The IRS requires that anybody requesting such information be a close relative of the deceased.
You'll need a few documents to confirm your relationship to access the deceased's financial records. In most circumstances, the IRS requests the following documents:
The deceased's name, SSN, and full address
A copy of the dead person's death certificate
A copy of the court's letter of testamentary granted to you
A copy of IRS Form 56 demonstrating your link to the dead
The deceased's tax returns report
Step 2: Decide on an Estate Administrator for the Deceased
As previously indicated, the dead frequently nominate the estate executor during their lives.
However, you must also select an estate administrator to represent all of the deceased's assets. Only when you've chosen an estate administrator will you be allowed to deal with the taxes.
Estate administrators often include:
Close relatives
Spouses
Children
Siblings
An estate administrator has the following tasks once appointed:
Accounting for all of the deceased's assets, property, and money
Settling all of the deceased's debts
Claiming money that the deceased may have loaned to someone during their lifetime
Distributing the remainder of the assets to the beneficiaries in accordance with the law or the deceased's will
Filling out IRS forms 1040 and 1041 for all taxes and returns for the dead.
Step 3: Returning Money to Creditors
Once an estate administrator is appointed, they must begin by contacting all of the persons to whom the deceased owes money. You must notify all of your loved one's creditors of their death.
These creditors must then reply to the petition within three months with proof of claim. This evidence of claim will include the precise amount due by the deceased. This evidence of claim also includes documentation indicating that the sender loaned money to the dead.
Step 4: Filing Income Tax Returns for the Deceased
After you've paid back all of the deceased's debts, you must submit their final tax returns.
The tax return process for a deceased individual is the same as for a live one. As a result, you must declare everything they earned up to their death on their tax return filing.
As an estate administrator, you must act with caution in this phase. Check to see if the deceased paid their taxes for past years. If they haven't, you must do it for them as well.
Step 5: File Estate Income Tax Returns for the Deceased
Aside from the income tax, an estate administrator must also file a tax for the transfer of the deceased's inheritance to their heirs. There is also a tax on the revenue earned by the deceased's assets.
Among these assets are:
The deceased's property
Investments in mutual funds
Stocks
Bonds
Step 6: Get Rid of the Federal Estate Tax Lien
In many circumstances, the heirs may choose to sell some of the property they have inherited. However, no one can sell the deceased person's property without the state's permission.
The IRS frequently imposes a lien estate tax on the deceased's assets from the moment they die.
This lien tax prevents the deceased's heirs from selling any of the deceased's property until all taxes and obligations are paid. If you want to sell the deceased's property after you've paid all of the taxes, you must first discharge the lien.
The discharge procedure is straightforward. You simply need to fill out IRS Form 4422 to request a discharge lien certification. A copy of the deceased's will and any papers connected to the sale of the decedent's property must be included in addition to this form.
You may sell the deceased's property once the lien taxes are discharged without the IRS demanding anything from you.
Who Will Receive a Tax Refund from a Deceased Person?
If a deceased individual is eligible for a tax return, the refund will be sent to the deceased person's Executor or personal representative. They have been given permission to sign the check into the estate bank account.
At that time, the money will be handled in the same manner as the rest of the cash in the estate.
How Can Trustworthy Help?
Nobody wants to think about what would happen if a deceased person owes taxes. However, this is a reality that you may face if a family member dies with unpaid IRS bills.
Even if you regularly manage your own taxes without trouble, filing taxes after someone has died can be a difficult task. In fact, it is one of the most difficult tax circumstances a person may face. This is why having all of your deceased's estate planning documents in one place is crucial.
At Trustworthy, we assist clients in completing any outstanding tax responsibilities left by loved ones by providing a cloud-based platform where all estate planning and tax documents can be stored and shared safely.
Having all of your family's tax documents in one place helps you guarantee that no unfiled tax returns or outstanding obligations are overlooked.
Click here to start your free 14-day trial today.
What Happens If a Deceased Individual Owes Taxes?
Ty McDuffey
January 31, 2023
|
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Taxes are probably the last thing on your mind following the loss of a loved one, but bills do not go away. They must be addressed as soon as possible to avoid unanticipated financial effects.
If a deceased individual owes taxes, the IRS may pursue the estate until the unpaid amounts are paid. The Collection Statute Expiration Date (CSED) for tax collection is around ten years, meaning the IRS can continue to pursue the estate for that time.
It is common for the deceased to have outstanding tax liabilities at the time of their death. Fortunately, there are a few things you can do to make the process of paying off a loved one's taxes as easy as possible.
Key Takeaways:
Executors are frequently required to submit a final tax return plus an estate tax return, including any inheritance or estate taxes.
You can file a joint tax return as a surviving spouse for the final year your spouse was alive.
Before you begin, try to find all Form 1040s, W-2s, and 1099s as though you were filing your own taxes.
Notice: Please keep in mind that this is general advice and shouldn’t be construed as particular monetary or tax advice. You should consult with a lawyer or a tax consultant if you have particular questions.
Who Is Responsible for Paying a Deceased Person's Taxes?
Typically, the person responsible for paying tariffs on behalf of a deceased individual is identified in the estate plan. This individual will be in charge of the estate's settlement and will have access to the information and accounts required to pay the unpaid taxes.
They will also be responsible for organizing any refunds that may be necessary.
There are several approaches to managing this task depending on the situation:
The Administrator of the Estate is usually responsible for managing outstanding costs, closing relevant accounts, and distributing inheritances as stated. Therefore, they might be put in charge of paying a deceased person's taxes.
An Appointed Legal Representative may handle the deceased's tax issues. This might be a family or estate planning attorney. They will also have access to financial information and will be able to deal with owed taxes quickly.
If the dead were married, the surviving spouse might also assume tax responsibilities, especially if they filed jointly for the year.
It should be noted that taxes for the year of death and maybe the preceding year can be submitted jointly (if the death occurred before taxes were filed). This would need to be included in the tax filing by the surviving spouse.
The obligation usually falls on a loved one or the next of kin in the absence of an estate plan, a spouse, or an appointed legal representative.
What Happens if You Don't File Taxes for a Deceased Individual?
If you do not file taxes for a deceased person, the IRS can take legal action against the estate by putting a federal lien on it. This basically implies that you must pay your federal taxes before you may close any other obligations or accounts. If not, the IRS can require that the deceased's legal representative pay the taxes.
Funeral expenditures and accompanying administrative charges are exempt and can be paid before any unpaid taxes on behalf of the deceased.
If the decedent owed taxes for several years, you could work with the IRS to demonstrate that you were unaware of the outstanding sums. Typically, this will need the assistance of a tax planning lawyer or CPA.
Which Assets Are Protected from the IRS?
Some assets in an estate are exempt from debt, including tax debt.
Life Insurance Benefits
These benefits are paid immediately to the listed recipients and are not subject to probate.
Unless the beneficiary additionally consented to be accountable for the obligation, the benefits are free from the debt. If a couple owes taxes and one of them dies while naming the other in a life insurance policy, a portion of the life insurance benefit will be due to the tax liability.
401(k) Retirement Account
The assets in a 401K investment account are usually excluded from IRS taxation.
When the account is opened, the account holder names a beneficiary, and the assets in the 401K flow straight to the beneficiary without going through probate. The only exception is if the 401K owner owes child support.
Are Beneficiaries Liable for the Deceased's Debts?
Beneficiaries are not liable for debts left by the dead, and creditors cannot regard them as such under the law.
Furthermore, because these monies flow directly to the beneficiary and do not pass through probate, eligible retirement accounts, life insurance profits, and funds put in certain types of trusts do not have to be utilized to pay for the decedent's debts.
What Is the Estate Administrator's Role in Paying the Deceased's Taxes?
When someone dies, an heir or executor of the estate may petition the court to settle the inheritance. You are entitled to act on behalf of the deceased after an estate administrator is legally appointed.
As a result, you must gather all assets (cash, bank accounts, titles, personal property, etc.) and settle obligations with creditors. It is critical to note that assets cannot be distributed to heirs until the debt is settled.
In terms of taxes, the administrator is responsible for filing any unfiled returns with the IRS.
Furthermore, the administrator must pay back taxes before the debt is totally erased.
The job of an estate administrator is time-consuming and difficult. As a result, it may be in your best interest to seek aid when dealing with the IRS, which will not relent even if the original taxpayer is deceased.
What Is the Difference Between Estate Tax and Inheritance Tax?
In addition to addressing the deceased's tax obligation, heirs may have financial difficulties due to an inheritance.
The IRS taxes inheritances in two ways: first, as a lump sum, and second, as a lump sum.
Inheritance Tax
An inheritance tax is a tax on receiving assets from a deceased person.
In general, inheritance is not considered income for federal tax purposes; therefore, you do not need to declare it. However, depending on where you live, you may be taxed at the state level.
Estate Tax
Estate taxes are paid from the deceased's estate, whereas inheritance taxes are paid from the beneficiary's pocket. The federal government collects 40% inheritance taxes on estates worth more than $12.06 million.
Depending on your specific situation, you may need to cover inheritance tax, estate tax, or both.
Do I Need to Save the Deceased’s Tax Documentation?
Since the IRS has the authority to audit a dead person's returns for up to 6 years after filing, it wants you to save any tax paperwork required to settle any financial or legal concerns that may emerge during the process.
For instance, you should retain documents of the deceased's evidence of income, such as W-2s and 1099s.
The IRS may request verification for costs such as:
Medical expenses
Charitable contributions
Property taxes
Contributions to a retirement plan
Keep these documents for up to 7 years before shredding and disposing of them.
Even after 7 years, you may need clarification on whether trashing and discarding these materials are safe. Before doing so, you should speak with a tax specialist who can evaluate the records and assess if it is okay to get rid of them.
What Should I Know About Submitting a Final Tax Return?
If a person does not remarry during the year in which their spouse died, the IRS deems them to have been married for the whole year.
The living spouse may file as married filing separately or married filing jointly.
Unless the surviving spouse receives an extension, the tax return is due by the usual tax date in April.
Who Needs to Sign the Final Tax Return Form?
When filing online, the surviving spouse/representative needs to obey the software's instructions for the proper signature and inscription requirements. The filer should put the term “dead,” the dead individual’s name, and the date of passing on the top of paper returns.
The following people should also sign the final tax return:
Any authorized representatives
If no chosen representative is named, the surviving spouse submitting a joint return should fill out the form and put "filing as surviving spouse" in the signature field.
If no designated representative is named and there is no living spouse, the individual in charge of the deceased individual's property must submit and sign the final tax return as a "personal representative."
What Are the Qualifications for a Widow or Widower?
Surviving spouses who have dependent kids may be entitled to file as a Qualifying Widow for 2 years following their spouse's passing. If they do not itemize deductions, this tax status permits them to take advantage of joint return tax rates, plus the largest standard deduction.
How Do I File Taxes for a Deceased Person Who Has No Estate?
Typically, the executor of an estate is responsible for filing taxes on behalf of the deceased.
However, not everyone dies with an estate in place.
A surviving family member should manage tax liabilities if no executor has been nominated.
Nevertheless, the tax position might get complicated when there is no estate.
If you are the representative of the deceased, you may be responsible for paying back taxes. It may be necessary to contact the IRS to get tax data dating back a few years to ascertain what is owed.
Here are some of the various taxes that may have to be paid:
Federal income taxes
State taxes
Local taxes
Taxes on self-employment
Taxes on business
How to File a Deceased Person's Taxes Step by Step
To file a deceased person's taxes, simply follow the instructions outlined below.
Step 1: Contact the IRS and Collect the Required Info
When a person dies, their will is not automatically carried out.
Beneficiaries receive their portion after going through a thorough probate process.
The initial stage in this process is to pay the deceased's taxes and obligations. This stage, however, needs you to have all of the deceased's account details.
If you don't have access to the deceased's records, you must seek them from the IRS. The IRS requires that anybody requesting such information be a close relative of the deceased.
You'll need a few documents to confirm your relationship to access the deceased's financial records. In most circumstances, the IRS requests the following documents:
The deceased's name, SSN, and full address
A copy of the dead person's death certificate
A copy of the court's letter of testamentary granted to you
A copy of IRS Form 56 demonstrating your link to the dead
The deceased's tax returns report
Step 2: Decide on an Estate Administrator for the Deceased
As previously indicated, the dead frequently nominate the estate executor during their lives.
However, you must also select an estate administrator to represent all of the deceased's assets. Only when you've chosen an estate administrator will you be allowed to deal with the taxes.
Estate administrators often include:
Close relatives
Spouses
Children
Siblings
An estate administrator has the following tasks once appointed:
Accounting for all of the deceased's assets, property, and money
Settling all of the deceased's debts
Claiming money that the deceased may have loaned to someone during their lifetime
Distributing the remainder of the assets to the beneficiaries in accordance with the law or the deceased's will
Filling out IRS forms 1040 and 1041 for all taxes and returns for the dead.
Step 3: Returning Money to Creditors
Once an estate administrator is appointed, they must begin by contacting all of the persons to whom the deceased owes money. You must notify all of your loved one's creditors of their death.
These creditors must then reply to the petition within three months with proof of claim. This evidence of claim will include the precise amount due by the deceased. This evidence of claim also includes documentation indicating that the sender loaned money to the dead.
Step 4: Filing Income Tax Returns for the Deceased
After you've paid back all of the deceased's debts, you must submit their final tax returns.
The tax return process for a deceased individual is the same as for a live one. As a result, you must declare everything they earned up to their death on their tax return filing.
As an estate administrator, you must act with caution in this phase. Check to see if the deceased paid their taxes for past years. If they haven't, you must do it for them as well.
Step 5: File Estate Income Tax Returns for the Deceased
Aside from the income tax, an estate administrator must also file a tax for the transfer of the deceased's inheritance to their heirs. There is also a tax on the revenue earned by the deceased's assets.
Among these assets are:
The deceased's property
Investments in mutual funds
Stocks
Bonds
Step 6: Get Rid of the Federal Estate Tax Lien
In many circumstances, the heirs may choose to sell some of the property they have inherited. However, no one can sell the deceased person's property without the state's permission.
The IRS frequently imposes a lien estate tax on the deceased's assets from the moment they die.
This lien tax prevents the deceased's heirs from selling any of the deceased's property until all taxes and obligations are paid. If you want to sell the deceased's property after you've paid all of the taxes, you must first discharge the lien.
The discharge procedure is straightforward. You simply need to fill out IRS Form 4422 to request a discharge lien certification. A copy of the deceased's will and any papers connected to the sale of the decedent's property must be included in addition to this form.
You may sell the deceased's property once the lien taxes are discharged without the IRS demanding anything from you.
Who Will Receive a Tax Refund from a Deceased Person?
If a deceased individual is eligible for a tax return, the refund will be sent to the deceased person's Executor or personal representative. They have been given permission to sign the check into the estate bank account.
At that time, the money will be handled in the same manner as the rest of the cash in the estate.
How Can Trustworthy Help?
Nobody wants to think about what would happen if a deceased person owes taxes. However, this is a reality that you may face if a family member dies with unpaid IRS bills.
Even if you regularly manage your own taxes without trouble, filing taxes after someone has died can be a difficult task. In fact, it is one of the most difficult tax circumstances a person may face. This is why having all of your deceased's estate planning documents in one place is crucial.
At Trustworthy, we assist clients in completing any outstanding tax responsibilities left by loved ones by providing a cloud-based platform where all estate planning and tax documents can be stored and shared safely.
Having all of your family's tax documents in one place helps you guarantee that no unfiled tax returns or outstanding obligations are overlooked.
Click here to start your free 14-day trial today.
Try Trustworthy today.
Try Trustworthy today.
Try the Family Operating System® for yourself. You (and your family) will love it.
Try the Family Operating System® for yourself. You (and your family) will love it.
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Nov 1, 2023
How Much Does It Cost To Publish An Obituary? Breaking It Down
How Much Does It Cost To Publish An Obituary? Breaking It Down
Nov 1, 2023
Nov 1, 2023
6 Reasons You Need an Obituary (Plus 6 Reasons You Don't)
6 Reasons You Need an Obituary (Plus 6 Reasons You Don't)
Oct 30, 2023
Oct 30, 2023
Where Do You Post an Obituary: A Step-By-Step Guide
Where Do You Post an Obituary: A Step-By-Step Guide
Oct 30, 2023
Oct 30, 2023
Obituary vs Death Note: What Are the Key Differences?
Obituary vs Death Note: What Are the Key Differences?
Oct 5, 2023
Oct 5, 2023
Buying A House With Elderly Parent: 10 Things To Know
Buying A House With Elderly Parent: 10 Things To Know
Sep 14, 2023
Sep 14, 2023
I'm Trapped Caring for Elderly Parents
I'm Trapped Caring for Elderly Parents
Oct 5, 2023
Oct 5, 2023
401(k) and Minors: Can a Minor be a Beneficiary?
401(k) and Minors: Can a Minor be a Beneficiary?
Sep 12, 2023
Sep 12, 2023
How to Self-Direct Your 401(k): Take Control of Your Retirement
How to Self-Direct Your 401(k): Take Control of Your Retirement
Aug 3, 2023
Aug 3, 2023
The Ultimate Guide to Decluttering and Simplifying Your Home as You Age
The Ultimate Guide to Decluttering and Simplifying Your Home as You Age
Aug 3, 2023
Aug 3, 2023
The Essential Guide to Preparing for Retirement
The Essential Guide to Preparing for Retirement
Aug 3, 2023
Aug 3, 2023
Estate Planning For Blended Families (Complete Guide)
Estate Planning For Blended Families (Complete Guide)
Aug 3, 2023
Aug 3, 2023
Estate Planning For Physicians (Complete Guide)
Estate Planning For Physicians (Complete Guide)
Jul 14, 2023
Jul 14, 2023
Are You Legally Responsible For Your Elderly Parents?
Are You Legally Responsible For Your Elderly Parents?
Jun 7, 2023
Jun 7, 2023
How To Travel With Elderly Parent: Here's How to Prepare
How To Travel With Elderly Parent: Here's How to Prepare
Jun 6, 2023
Jun 6, 2023
Checklist For Moving A Parent To Assisted Living
Checklist For Moving A Parent To Assisted Living
Jun 6, 2023
Jun 6, 2023
How to Set Up A Trust For An Elderly Parent: 6 Easy Steps
How to Set Up A Trust For An Elderly Parent: 6 Easy Steps
Jun 6, 2023
Jun 6, 2023
How To Stop Elderly Parents From Giving Money Away (9 Tips)
How To Stop Elderly Parents From Giving Money Away (9 Tips)
Jun 6, 2023
Jun 6, 2023
Should Elderly Parents Sign Over Their House? Pros & Cons
Should Elderly Parents Sign Over Their House? Pros & Cons
May 17, 2023
May 17, 2023
Estate Planning: A Comprehensive Guide
Estate Planning: A Comprehensive Guide
May 2, 2023
May 2, 2023
Helping Elderly Parents: The Complete Guide
Helping Elderly Parents: The Complete Guide
May 1, 2023
May 1, 2023
Trustworthy guide: How to organize your digital information
Trustworthy guide: How to organize your digital information
Apr 15, 2023
Apr 15, 2023
Can My Husband Make a Will Without My Knowledge?
Can My Husband Make a Will Without My Knowledge?
Apr 15, 2023
Apr 15, 2023
What is a Last Will and Testament (also known as a Will)?
What is a Last Will and Testament (also known as a Will)?
Apr 15, 2023
Apr 15, 2023
Can A Wife Sell Deceased Husband's Property (6 Rules)
Can A Wife Sell Deceased Husband's Property (6 Rules)
Apr 15, 2023
Apr 15, 2023
Should I Shred Documents Of A Deceased Person? (5 Tips)
Should I Shred Documents Of A Deceased Person? (5 Tips)
Apr 15, 2023
Apr 15, 2023
Can I Change My Power of Attorney Without A Lawyer?
Can I Change My Power of Attorney Without A Lawyer?
Apr 15, 2023
Apr 15, 2023
Can You Have Two Power of Attorneys? (A Lawyer Answers)
Can You Have Two Power of Attorneys? (A Lawyer Answers)
Apr 15, 2023
Apr 15, 2023
Do Attorneys Keep Copies Of a Will? (4 Things To Know)
Do Attorneys Keep Copies Of a Will? (4 Things To Know)
Apr 15, 2023
Apr 15, 2023
Estate Planning for a Special Needs Child (Complete Guide)
Estate Planning for a Special Needs Child (Complete Guide)
Apr 15, 2023
Apr 15, 2023
Estate Planning For Childless Couples (Complete Guide)
Estate Planning For Childless Couples (Complete Guide)
Apr 15, 2023
Apr 15, 2023
Estate Planning For Elderly Parents (Complete Guide)
Estate Planning For Elderly Parents (Complete Guide)
Apr 15, 2023
Apr 15, 2023
Estate Planning For High Net Worth & Large Estates
Estate Planning For High Net Worth & Large Estates
Apr 15, 2023
Apr 15, 2023
Estate Planning For Irresponsible Children (Complete Guide)
Estate Planning For Irresponsible Children (Complete Guide)
Apr 15, 2023
Apr 15, 2023
How To Get Power of Attorney For Parent With Dementia?
How To Get Power of Attorney For Parent With Dementia?
Apr 15, 2023
Apr 15, 2023
I Lost My Power of Attorney Papers, Now What?
I Lost My Power of Attorney Papers, Now What?
Apr 15, 2023
Apr 15, 2023
Is It Better To Sell or Rent An Inherited House? (Pros & Cons)
Is It Better To Sell or Rent An Inherited House? (Pros & Cons)
Apr 15, 2023
Apr 15, 2023
Is It Wrong To Move Away From Elderly Parents? My Advice
Is It Wrong To Move Away From Elderly Parents? My Advice
Apr 15, 2023
Apr 15, 2023
Moving An Elderly Parent Into Your Home: What To Know
Moving An Elderly Parent Into Your Home: What To Know
Apr 15, 2023
Apr 15, 2023
Moving An Elderly Parent to Another State: What To Know
Moving An Elderly Parent to Another State: What To Know
Apr 15, 2023
Apr 15, 2023
What If Witnesses To A Will Cannot Be Found? A Lawyer Answers
What If Witnesses To A Will Cannot Be Found? A Lawyer Answers
Apr 15, 2023
Apr 15, 2023
What To Bring To Estate Planning Meeting (Checklist)
What To Bring To Estate Planning Meeting (Checklist)
Apr 15, 2023
Apr 15, 2023
When Should You Get An Estate Plan? (According To A Lawyer)
When Should You Get An Estate Plan? (According To A Lawyer)
Apr 15, 2023
Apr 15, 2023
Which Sibling Should Take Care of Elderly Parents?
Which Sibling Should Take Care of Elderly Parents?
Apr 15, 2023
Apr 15, 2023
Who Can Override A Power of Attorney? (A Lawyer Answers)
Who Can Override A Power of Attorney? (A Lawyer Answers)
Apr 15, 2023
Apr 15, 2023
Can Power of Attorney Sell Property Before Death?
Can Power of Attorney Sell Property Before Death?
Apr 15, 2023
Apr 15, 2023
Can The Executor Of A Will Access Bank Accounts? (Yes, Here's How)
Can The Executor Of A Will Access Bank Accounts? (Yes, Here's How)
Apr 15, 2023
Apr 15, 2023
Complete List of Things To Do For Elderly Parents (Checklist)
Complete List of Things To Do For Elderly Parents (Checklist)
Apr 15, 2023
Apr 15, 2023
How To Get Power of Attorney For A Deceased Person?
How To Get Power of Attorney For A Deceased Person?
Apr 15, 2023
Apr 15, 2023
How To Help Elderly Parents From A Distance? 7 Tips
How To Help Elderly Parents From A Distance? 7 Tips
Apr 15, 2023
Apr 15, 2023
Legal Documents For Elderly Parents: Checklist
Legal Documents For Elderly Parents: Checklist
Apr 15, 2023
Apr 15, 2023
Selling Elderly Parents Home: How To Do It + Mistakes To Avoid
Selling Elderly Parents Home: How To Do It + Mistakes To Avoid
Apr 15, 2023
Apr 15, 2023
What To Do When A Sibling Is Manipulating Elderly Parents
What To Do When A Sibling Is Manipulating Elderly Parents
Apr 6, 2023
Apr 6, 2023
Can An Out of State Attorney Write My Will? (A Lawyer Answers)
Can An Out of State Attorney Write My Will? (A Lawyer Answers)
Mar 15, 2023
Mar 15, 2023
Settling an Estate: A Step-by-Step Guide
Settling an Estate: A Step-by-Step Guide
Feb 10, 2023
Feb 10, 2023
My Deceased Husband Received A Check In The Mail (4 Steps To Take)
My Deceased Husband Received A Check In The Mail (4 Steps To Take)
Feb 7, 2023
Feb 7, 2023
The Benefits of Working With an Experienced Estate Planning Attorney
The Benefits of Working With an Experienced Estate Planning Attorney
Feb 6, 2023
Feb 6, 2023
How To Track Elderly Parents' Phone (2 Options)
How To Track Elderly Parents' Phone (2 Options)
Feb 1, 2023
Feb 1, 2023
Can You Collect Your Parents' Social Security When They Die?
Can You Collect Your Parents' Social Security When They Die?
Feb 1, 2023
Feb 1, 2023
How Do I Stop VA Benefits When Someone Dies (Simple Guide)
How Do I Stop VA Benefits When Someone Dies (Simple Guide)
Feb 1, 2023
Feb 1, 2023
Can You Pay Money Into A Deceased Person's Bank Account?
Can You Pay Money Into A Deceased Person's Bank Account?
Feb 1, 2023
Feb 1, 2023
Deleting A Facebook Account When Someone Dies (Step by Step)
Deleting A Facebook Account When Someone Dies (Step by Step)
Feb 1, 2023
Feb 1, 2023
Does The DMV Know When Someone Dies?
Does The DMV Know When Someone Dies?
Feb 1, 2023
Feb 1, 2023
How To Find A Deceased Person's Lawyer (5 Ways)
How To Find A Deceased Person's Lawyer (5 Ways)
Feb 1, 2023
Feb 1, 2023
How To Plan A Celebration Of Life (10 Steps With Examples)
How To Plan A Celebration Of Life (10 Steps With Examples)
Feb 1, 2023
Feb 1, 2023
How To Stop Mail Of A Deceased Person? A Simple Guide
How To Stop Mail Of A Deceased Person? A Simple Guide
Feb 1, 2023
Feb 1, 2023
How to Stop Social Security Direct Deposit After Death
How to Stop Social Security Direct Deposit After Death
Feb 1, 2023
Feb 1, 2023
How To Transfer Firearms From A Deceased Person (3 Steps)
How To Transfer Firearms From A Deceased Person (3 Steps)
Feb 1, 2023
Feb 1, 2023
How To Write An Obituary (5 Steps With Examples)
How To Write An Obituary (5 Steps With Examples)
Feb 1, 2023
Feb 1, 2023
What Happens To A Leased Vehicle When Someone Dies?
What Happens To A Leased Vehicle When Someone Dies?
Jan 31, 2023
Jan 31, 2023
Do Wills Expire? 6 Things To Know
Do Wills Expire? 6 Things To Know
Jan 31, 2023
Jan 31, 2023
How To Get Into a Deceased Person's Computer (Microsoft & Apple)
How To Get Into a Deceased Person's Computer (Microsoft & Apple)
Jan 31, 2023
Jan 31, 2023
Why Do Funeral Homes Take Fingerprints of the Deceased?
Why Do Funeral Homes Take Fingerprints of the Deceased?
Jan 31, 2023
Jan 31, 2023
What To Do If Your Deceased Parents' Home Is In Foreclosure
What To Do If Your Deceased Parents' Home Is In Foreclosure
Jan 31, 2023
Jan 31, 2023
Questions To Ask An Estate Attorney After Death (Checklist)
Questions To Ask An Estate Attorney After Death (Checklist)
Jan 31, 2023
Jan 31, 2023
What Happens If a Deceased Individual Owes Taxes?
What Happens If a Deceased Individual Owes Taxes?
Jan 31, 2023
Jan 31, 2023
Components of Estate Planning: 6 Things To Consider
Components of Estate Planning: 6 Things To Consider
Jan 22, 2023
Jan 22, 2023
What To Do If Insurance Check Is Made Out To A Deceased Person
What To Do If Insurance Check Is Made Out To A Deceased Person
Jan 8, 2023
Jan 8, 2023
What Does a Typical Estate Plan Include?
What Does a Typical Estate Plan Include?
Apr 15, 2022
Apr 15, 2022
Can I Do A Video Will? (Is It Legitimate & What To Consider)
Can I Do A Video Will? (Is It Legitimate & What To Consider)
Apr 15, 2022
Apr 15, 2022
Estate Planning For Green Card Holders (Complete Guide)
Estate Planning For Green Card Holders (Complete Guide)
Mar 2, 2022
Mar 2, 2022
What Does Your “Property” Mean?
What Does Your “Property” Mean?
Mar 2, 2022
Mar 2, 2022
What is the Uniform Trust Code? What is the Uniform Probate Code?
What is the Uniform Trust Code? What is the Uniform Probate Code?
Mar 2, 2022
Mar 2, 2022
Do You Need to Avoid Probate?
Do You Need to Avoid Probate?
Mar 2, 2022
Mar 2, 2022
How is a Trust Created?
How is a Trust Created?
Mar 2, 2022
Mar 2, 2022
What Are Advance Directives?
What Are Advance Directives?
Mar 2, 2022
Mar 2, 2022
What does a Trustee Do?
What does a Trustee Do?
Mar 2, 2022
Mar 2, 2022
What is an Estate Plan? (And why you need one)
What is an Estate Plan? (And why you need one)
Mar 2, 2022
Mar 2, 2022
What is Probate?
What is Probate?
Mar 2, 2022
Mar 2, 2022
What Is Your Domicile & Why It Matters
What Is Your Domicile & Why It Matters
Mar 2, 2022
Mar 2, 2022
What Is a Power of Attorney for Finances?
What Is a Power of Attorney for Finances?
Mar 1, 2022
Mar 1, 2022
Should your family consider an umbrella insurance policy?
Should your family consider an umbrella insurance policy?
Mar 1, 2022
Mar 1, 2022
Do I need a digital power of attorney?
Do I need a digital power of attorney?
Apr 6, 2020
Apr 6, 2020
What Exactly is a Trust?
What Exactly is a Trust?