Estate administration in the digital age requires having a strategy to share passwords to your computer, email and online accounts. Without that, things quickly get complicated.
Now that you rented your old house to your daughter, that home may be considered a rental home on your federal income tax. You get to treat that as an investment property and can take some of the tax advantages available to investors, including taking depreciation on the home, deducting expenses for the upkeep, as well as deducting real estate taxes and other expenses.
People frequently hear that they should visit their attorney to have their wills and other important legal documents prepared, but many people procrastinate. Therefore, if you’re in that group, do not feel like you’re alone.
As it turns out, though, living wills and durable power of attorney for healthcare are two things that single people might especially want to give some thought to.
So, you’re becoming concerned about your parents handling the challenge of driving and handling their finances. It is a tough issue for anyone. However, some
No matter what line of work you are in, estate planning has facets that apply to everyone, and it comes down to documenting wishes and avoiding probate and unnecessary taxes. Too many people put it off, but, in general, the sooner you do it, the better.