Miracle Law PLLC

25 year throwback to the iconic Office Space scene! This week, our team destroyed our least-favorite printer. Sayonara!

Wondering what happens to debt after someone passes away? It’s a question we often get, and understanding how debt impacts an estate can make a big difference in planning for the future. Here’s what you should know: ?? Secured vs. Unsecured Debt – Secured debts, like mortgages, are tied to assets and may require property sales to settle. Unsecured debts, like credit cards, are paid from the estate but typically don’t affect specific assets. ?? Cosigners and Joint Account Holders – Surviving cosigners or joint account holders are often responsible for shared debts, so planning can help prevent unexpected burdens. ?? Community Property States – In certain states, spouses may be liable for each other's debts, making estate planning crucial for clarity and preparation. ?? Debt in Probate – During probate, creditors may file claims against the estate. Thoughtful planning can ease this process and protect heirs. Have questions about your estate plan? Contact us to discuss your plan and protect what matters most.

Wondering what happens to debt after someone passes away? It’s a question we often get, and understanding how debt impacts an estate can make a big difference in planning for the future. Here’s what you should know: ?? Secured vs. Unsecured Debt – Secured debts, like mortgages, are tied to assets and may require property sales to settle. Unsecured debts, like credit cards, are paid from the estate but typically don’t affect specific assets. ?? Cosigners and Joint Account Holders – Surviving cosigners or joint account holders are often responsible for shared debts, so planning can help prevent unexpected burdens. ?? Community Property States – In certain states, spouses may be liable for each other's debts, making estate planning crucial for clarity and preparation. ?? Debt in Probate – During probate, creditors may file claims against the estate. Thoughtful planning can ease this process and protect heirs. Have questions about your estate plan? Contact us to discuss your plan and protect what matters most.

Incorporating charitable giving into your estate plan isn’t just about making a difference — it can also offer significant financial benefits. From reducing estate taxes to ensuring your legacy lives on, there are numerous benefits to supporting the causes you care about. Swipe through to learn more ?? Curious about how to get started? Give us a call today. Our team is here for all of your estate planning needs.

When a loved one passes, the last thing you need is confusion about how to handle their property. Should the unfortunate happen, it’s important to feel prepared. Swipe for the initial steps involved in transferring property ownership ?? Please know that our team is here to help you understand the process and guide you through every step. If you need help navigating the property transfer process or have questions, give us a call anytime.

Disinheriting someone from your estate plan is a deeply personal and often challenging decision. But this choice can sometimes be necessary, and in those cases, it’s crucial to take the appropriate legal steps to prevent misunderstandings and legal disputes. Swipe for some key considerations to help ensure your wishes are honored and your intentions are clear ?? Our team is here to provide guidance and support as you navigate these complex decisions. Reach out with any estate planning questions.

Estate planning is often a challenging process. But for those whose assets span multiple countries, navigating estate planning becomes even more intricate — yet it remains just as vital. Here are a few key considerations for expats and individuals with international connections to keep in mind: ? Understand Tax Obligations: Estate planning for expats requires navigating complex tax systems and avoiding double taxation by understanding inheritance laws and tax treaties. ? Cross-Border Legal Nuances: U.S. wills and trusts may not be recognized internationally, which may require separate wills, a situs will, or an international will to ensure your wishes are upheld across jurisdictions. ? Guardianship and Power of Attorney: U.S. powers of attorney may not be valid abroad, so it can be necessary to appoint local agents or guardians. Working with a notary public can also help authenticate documents, increasing their acceptance internationally and ensuring compliance with local guardianship laws. If you’re an expat or own assets abroad, our team is here to help you navigate these complexities with ease. Reach out to get started!

Without a valid will, things can get complicated — fast. State laws take over, deciding how assets are distributed, who cares for minor children, and who handles debts and taxes. Swipe through for a breakdown of what happens without a will. And if you have any questions or want to create or update your will, please give us a call.

Thinking about joint ownership in your estate plan? It’s a unique approach with specific benefits and considerations. Joint tenancy, also known as joint tenancy with right of survivorship, allows multiple individuals to hold full ownership of the same asset. This arrangement can simplify inheritance, but it’s important to understand how it works and what it means for your estate. Swipe through to learn ?? Have questions? Reach out to our team today — we’re here to help you secure your legacy.

Estate planning can be complex, especially for high-net-worth individuals who may face unique challenges, such as tax complexity, wealth preservation, and (in some cases) business succession. The good news: proper planning can significantly reduce the taxes on your estate, helping you leave more behind for your loved ones. To help high-net-worth individuals in our network, our team created a short estate planning checklist. Read the graphic to learn. For personalized estate planning guidance, give our office a call. Plan today for peace of mind tomorrow.