What is the name of your state? Penna.
Hello,
I'm in Phila., PA. preparing my will and need to know the legalities [sic] of whether or not to include the standard:
"I direct that my just debts, funeral expenses and expenses of last illness be first paid from my estate." ???
Must this be included?
What are my options?
I really don't want to leave my debt to those I am leaving my assests to -
I [think I] know certain/some, etc. debt simply can't be collected unless I obligate my estate accordingly in writing? For example, if I leave behind credit card debt, or hospital bills, or even taxes??
What if any (each specifically please) of these can I prevent being taken from my estate and hence leaving less to my family.
Here's an example which sticks in my mind:
About 20 years ago, my sister received a settlement for personal injury - at the time of disbursement her lawyer asked if she had any debt? She told him she may have owed welfare money for assistance she received in the past. As a result, she winded paying almost 30,000 to the local welfare department. We later learned of many individuals with similar debt and similar settlements who paid nothing "back".
Now, PLEASE REALIZE I'm not giving this example to open a discussion of morals or ethics - if that were my intention, I would post elsewhere - I'm posting here because I have questions/concerns of LAW with regard to my Last Will. So please, help me to stay focused on the question at hand
Thank you all, in advance.What is the name of your state?
Hello,
I'm in Phila., PA. preparing my will and need to know the legalities [sic] of whether or not to include the standard:
"I direct that my just debts, funeral expenses and expenses of last illness be first paid from my estate." ???
Must this be included?
What are my options?
I really don't want to leave my debt to those I am leaving my assests to -
I [think I] know certain/some, etc. debt simply can't be collected unless I obligate my estate accordingly in writing? For example, if I leave behind credit card debt, or hospital bills, or even taxes??
What if any (each specifically please) of these can I prevent being taken from my estate and hence leaving less to my family.
Here's an example which sticks in my mind:
About 20 years ago, my sister received a settlement for personal injury - at the time of disbursement her lawyer asked if she had any debt? She told him she may have owed welfare money for assistance she received in the past. As a result, she winded paying almost 30,000 to the local welfare department. We later learned of many individuals with similar debt and similar settlements who paid nothing "back".
Now, PLEASE REALIZE I'm not giving this example to open a discussion of morals or ethics - if that were my intention, I would post elsewhere - I'm posting here because I have questions/concerns of LAW with regard to my Last Will. So please, help me to stay focused on the question at hand
Thank you all, in advance.What is the name of your state?