Anthony S. Park PLLC: Recent Episodes
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Estate planning is an important part of your financial planning, but can be confusing. And estate planning can be even more intimidating if you're terminally ill. In this article, I’ll answer the most common questions about estate planning if you’re terminally ill.
The post How to Start Estate Planning if You Are Terminally Ill appeared first on Anthony S. Park PLLC.
Being chosen to serve as the executor of someone’s estate might seem like a huge honor. But it’s really more of a huge responsibility. Many might even call it a burden.
What if you’re not sure you want to be an executor? Is it OK to decline? In this post, I’ll guide you through the most common questions and answers.
The post What If You Don’t Want to Be an Executor? appeared first on Anthony S. Park PLLC.
When folks reach out about hiring me as their executor, price is top of mind for many (if not all). So let’s go over what it costs to hire a professional executor, including fees and other expenses. We’ll start with the basics.
The post 5 Reasons to Hire a Professional Executor to Sell Probate Real Estate appeared first on Anthony S. Park PLLC.
When folks reach out about hiring me as their executor, price is top of mind for many (if not all). So let’s go over what it costs to hire a professional executor, including fees and other expenses. We’ll start with the basics.
The post How much does it cost to hire an executor? appeared first on Anthony S. Park PLLC.
When people reach out about hiring me as their bitcoin executor, they tend to ask a lot of the same questions. These things might be on your mind also, so I’m going to answer them here. Let’s get started!
The post How to Hire a Bitcoin Executor appeared first on Anthony S. Park PLLC.
If you’ve inherited an NYC co-op and you don’t live in the area (or, if you’re a New Yorker and you already know what a headache co-ops can be), you may want to consider hiring a local professional executor
The post How to Sell an Inherited Co-op in New York City appeared first on Anthony S. Park PLLC.
If you’re a realtor, there’s a good chance that you will (or perhaps already have) run into a property that belonged to someone who is now deceased, whose heirs are selling the home in probate. When that day comes, what will you need to know? What makes a probate sale different from any other real estate transaction?
The post Probate for Realtors: What You Need to Know appeared first on Anthony S. Park PLLC.
Inheriting someone’s home or property can be a stressful and overwhelming process. If the property is located in the US, and you happen to live outside of the country, it can be even more difficult.
The post How to Inherit US Property When You (the Heir) Live Overseas appeared first on Anthony S. Park PLLC.
There is no legal time limit to transfer real estate after death. It could happen quickly, or it could take years. We’ve seen cases where the real estate doesn’t get transferred until generations later. A fast sale is ideal, because problems can emerge in the meantime. There is a lag between the date of death and when the executor gets legal authority to handle the property. So, even “fast” isn’t very fast.
The post E341 How Long to Transfer Real Estate After Death appeared first on Anthony S. Park PLLC.
We’ve talked before about not making a loved one your executor. I recently read an article titled, “2 Big Reasons Not to Make a Loved One the Executor of Your Estate.” Here, we’ll add our own perspective for why it’s not a great idea.
The post E340 Reasons Not to Make a Loved One the Executor appeared first on Anthony S. Park PLLC.
In this episode, we will talk about self-custodied bitcoiners (not those who have their coin on an exchange or with a third party). Some bitcoiners share their seed phrase with their spouse or adult children. Or perhaps they share their cloned wallet with those trusted individuals.
The post E339 Why Sharing Your Seed Phrase is a Bad Bitcoin Inheritance Plan appeared first on Anthony S. Park PLLC.
This is a very common question that we get from Solo Agers. We’ll review the pros and cons of making that decision.
The post E338 Should I Sell My Home Before I Die? appeared first on Anthony S. Park PLLC.
When someone dies, many folks are confused about who owns the house during probate, right after the death. Technically, the heirs own it immediately upon death, subject to debts and taxes of the estate. But, sometimes is not clear who the heirs are. The probate process decides who exactly are the heirs and places an executor in charge to sort out all those debts and taxes.
The post E337 Who Owns a House During Probate? appeared first on Anthony S. Park PLLC.
What are the risks of being an executor? An executor has a lot of power and responsibility during probate, but is correspondingly accountable for everything that happens within the estate.
The post E336 Risks of Being an Executor appeared first on Anthony S. Park PLLC.
A letter of instruction will likely fail for your bitcoin inheritance plan and should have only a marginal role in your plan, if any.
The post E335 Why a Letter of Instruction for Bitcoin Inheritance Will Fail appeared first on Anthony S. Park PLLC.
I do serve as a professional trustee, not just executor, or our Solo Ager clients. We’ll cover why our Solo Ager clients are looking for a professional trustee, why they don’t use banks, and how much it costs to hire a professional trustee.
The post E334 Why Hire a Professional Trustee? appeared first on Anthony S. Park PLLC.
This happens when the buyer agrees to a higher contract price, but the seller also agrees to credit back a set amount to the buyer, so the net purchase price is lower.
The post E333 Seller Credit When Selling Probate Real Estate appeared first on Anthony S. Park PLLC.
We’ve talked before about why Solo Ager estate plans must be frictionless. Same goes for a bitcoin inheritance plan, even more so.
The post E332 Your Bitcoin Inheritance Plan Must be Frictionless appeared first on Anthony S. Park PLLC.
Folks who are interested in naming me as their professional executor ask how much it costs to get started. There is no cost! We’ll explain why, what you get, and what to expect.
The post E331 No Upfront Cost to Name a Professional Executor appeared first on Anthony S. Park PLLC.
Barring a terminal illness or physician-assisted death, it’s very hard to know when you will die. The world changes very quickly, and you do not know what the world will be like at the time of your death.
The post E330 Your Bitcoin Inheritance Plan Must be Flexible appeared first on Anthony S. Park PLLC.
Physician-Assisted Dying has other names that might be familiar: death with dignity, aid in dying, assisted death, euthanasia, and assisted suicide
Since we’ve received many inquiries from our Solo Agers, here some of your FAQs
The post E329 Professional Executor for Physician-Assisted Dying appeared first on Anthony S. Park PLLC.
With non-probate home sales, brokers are the first to list, set an open house, and find a great buyer. Lawyers only get involved once a buyer is in place and a deal is struck. The lawyer then drafts the contract and conducts the closing. But with probate, talking to a lawyer first makes more sense.
The post E328 Hire Lawyer or Broker First When Selling a Probate Property? appeared first on Anthony S. Park PLLC.
How much does a professional executor cost? Most people are surprised to learn that executor fees are the same whether you choose an experienced professional or your unemployed nephew who has lots of spare time. When people realize that they are paying the same cost, they will probably choose a professional executor.
The post E327 Professional and Amateur Executors Cost the Same appeared first on Anthony S. Park PLLC.
A deadman’s switch is a seemingly elegant and trustless solution for bitcoin inheritance. But if you think it through, it currently has too many problems to work securely.
The post E326 Why Not a Deadman’s Switch for Bitcoin Inheritance? appeared first on Anthony S. Park PLLC.
No, we’re not aware of any state that requires a lawyer to make your will. We do nonetheless recommend that our Solo Agers at least hire a lawyer to supervise the signing. Here’s why:
The post E325 Do You Need a Lawyer to Make a Will? appeared first on Anthony S. Park PLLC.
Why do heirs suddenly need to sell probate real estate? We see cases where years, even generations, have elapsed since the real estate owner has died, and nothing has been done. So why, all of a sudden, do the heirs seek a lawyer or professional executor? Here are the top 5 reasons we’ve seen.
The post E324 Top 5 Reasons Heirs Suddenly Need to Sell Probate Real Estate appeared first on Anthony S. Park PLLC.
When we chat with new clients, we ask them why they chose to look for and hire a professional executor. Here are the 5 most common answers. Perhaps you will see yourself in one of these situations.
The post E323 Top 5 Reasons They a Hire Professional Executor appeared first on Anthony S. Park PLLC.
Multisig or a passphrase ("poor man’s multisig") are two ways to transfer custody to your bitcoin executor upon your death. Let’s compare, so you can decide which best fits your bitcoin inheritance plan.
The post E322 Multisig versus Passphrase with a Bitcoin Executor appeared first on Anthony S. Park PLLC.
A frictionless first estate plan is a great first step for Solo Agers with no plan at all. It helps Solo Agers clarify their thinking and decisions, all while having a basic plan in place in the meantime.
The post E321 The Frictionless Solo Ager Estate Plan appeared first on Anthony S. Park PLLC.
Let’s discuss how, why, and how long it takes to get “fresh” Letters Testamentary in New York. Fresh letters simply means that they are newly dated. Most of the time, probate takes months or even years, and during that time, you may need to get fresh copies of the letters to use.
The post E320 How to Get Updated Letters Testamentary appeared first on Anthony S. Park PLLC.
As we’ve spoken about before, Anthony can be your professional executor, even if you don’t live in New York. We have been seeing many inquires from out of state lately, and these are the top 5 looking for Anthony to be their professional executor.
The post E319 Top 5 States Looking for Professional Executors appeared first on Anthony S. Park PLLC.
As you may know, Bitcoin does not have layers like legacy and traditional accounts do, so an inheritance plan needs to be created. We will discuss the drawbacks of constantly seeking and getting stuck on a “perfect” Bitcoin inheritance plan, and a few solutions for approaching the creation of these layers.
The post E318 Bitcoin Inheritance Needs Layers appeared first on Anthony S. Park PLLC.
We get this question quite often – can you sell your inherited property? The answer to this depends on many factors. First, you need to figure out if you can sell an inherited property.
The post E317 Can You Sell Your Inherited Property? appeared first on Anthony S. Park PLLC.
Since we do so many probates, we see what parts of your planning actually helped with probate (dos), and which ones didn’t really matter (don't bothers).
The post E316 Estate Planning Dos and Don’t Bothers for Solo Agers appeared first on Anthony S. Park PLLC.
As you can imagine, probating a hoarder’s estate adds a few more complications. In this episode, we will talk about how to deal with some of the main challenges.
The post E315 How to Probate a Hoarder Estate appeared first on Anthony S. Park PLLC.
Could you imagine doing a ton of work and not getting paid? It’s frustrating, but it happens. One of the drawbacks of nonprofessional executors is they are more likely to lose their executor fee, despite doing months, even years, of work for the estate.
The post E314 Nonprofessional Executors Don’t Get Paid appeared first on Anthony S. Park PLLC.
Think as if your bitcoin heirs will probate your estate in a completely foreign country (or planet).
The post E313 How to Think Like Your Bitcoin Heirs appeared first on Anthony S. Park PLLC.
It’s understandable that beneficiary designations seem like an excellent and easy estate planning tool. But from our experience, when someone actually dies, beneficiary designations are often bad news.
The post E312 Why Beneficiary Designations Are Bad appeared first on Anthony S. Park PLLC.
Tax clearance is taking even longer lately because of a new twist: 1040 verification. Everyone agrees it’s important to keep the tax bogeyman satisfied, but all these layers of delays are frustrating our clients and us. Below we'll explain what’s happening here.
The post E311 The Latest Probate Tax Delay is 1040 Verification appeared first on Anthony S. Park PLLC.
How do you sell a probate co-op, when the estate has no other cash?
The post E310 How to Sell Cash-Poor Probate Co-ops appeared first on Anthony S. Park PLLC.
If you’re a solo ager and you must use a power of attorney (POA), make it as limited as possible.
The post E309 Limited Powers of Attorney for Solo Agers appeared first on Anthony S. Park PLLC.
A placeholder bitcoin inheritance plan may be the solution to spur bitcoiners into action, rather than pursuing a “perfect” plan. Instead of holding off on a plan until it’s perfect, have a placeholder plan in the meantime in case anything happens to you while you are still perfecting your inheritance plan.
The post E308 Have a Placeholder Bitcoin Inheritance Plan appeared first on Anthony S. Park PLLC.
How do you find a trustworthy fiduciary to make end of life decisions for you if you’re a solo ager?
The post E307 End of Life Decisions for Solo Agers appeared first on Anthony S. Park PLLC.
What information are heirs entitled to, and how often can they request it? There is a delicate balance for executors to keep heirs in the loop without draining their time or estate resources in constantly responding to inquiries.
The post E306 What Information Are Heirs Entitled To? appeared first on Anthony S. Park PLLC.
Heirs often want to know if there is any way to get their inheritance faster.
The post E305 Get Your Inheritance Faster appeared first on Anthony S. Park PLLC.
What are some less costly alternatives for a managed multi-sig bitcoin inheritance plan?
The post E304 Poor Man’s Multisig for Bitcoin Inheritance appeared first on Anthony S. Park PLLC.
A common question from our Solo Agers is: does my executor have to accept?
The post E303 How to Choose an Executor Who Will Accept appeared first on Anthony S. Park PLLC.
What is the minimum estate size that a professional executor will accept? A few prospective clients have called asking, so we’ll review bank executor minimums, our minimums, and some exceptions.
The post E302 Minimum Estate Size for a Professional Executor appeared first on Anthony S. Park PLLC.
Economic recession affects probate, just as much as wages, gas, and your grocery bill. We’ll share a few ways we’ve seen how it’s been impacting probates.
The post E301 How the Recession Affects Probate appeared first on Anthony S. Park PLLC.
A shared Bitcoin family wallet sounds like a simple way for your heirs to inherit upon your death. We’ll discuss the advantages of this setup, as well as some important drawbacks.
The post E300 Inheritance by Bitcoin Family Wallet appeared first on Anthony S. Park PLLC.
Sometimes a revocable trust makes great sense for a solo ager estate plan. Generally, revocable trusts aren’t so great in New York, because they can be hard to fully fund. The main goal of a revocable trust is to avoid probate. Since revocable trusts are hard to fully fund, the goal of avoiding probate is not usually met. Here are a few reasons a revocable trust may nonetheless work for a solo ager.
The post E299 When do Solo Agers Need a Revocable Trust? appeared first on Anthony S. Park PLLC.
Which offer for probate real estate is better: an experienced investor cash buyer, or an individual financed offer that’s supposedly $80,000 more?
In a recent case, turns out the individual offer was actually more like $30,000 (~3.5%) higher, plus tons of headaches and delays.
The post E298 Is a Cash Buyer Better for Probate Real Estate? appeared first on Anthony S. Park PLLC.
Here’s what I learned about bitcoin inheritance at the recent Adopting Bitcoin conference in El Salvador. Link to presentation
Background: (1) One year ago, El Salvador was the first country in world to make bitcoin legal tender, and (2) these conferences tend to be attended by the most hardcore bitcoiners, not so much the everyday users.
The post E297 Lessons on Bitcoin Inheritance from El Salvador 2022 appeared first on Anthony S. Park PLLC.
We’ll discuss a recent case study of how bad neighbors can harm probate real estate sale, and how to deal with them.
The post E296 How to Sell Probate Real Estate with Bad Neighbors appeared first on Anthony S. Park PLLC.
Executors see a lot of intimate details and secrets as part of their job. If the executor was a friend or family member of the decedent, this can be very emotional and hard to unsee. It’s often better for friends and family to have a disinterested professional executor instead. Using a professional executor without emotional connection can spare the family and friends from the intimate details.
The post E295 Executors as Privacy and Emotional Buffer for Solo Agers appeared first on Anthony S. Park PLLC.
After many months (maybe years), the estate is finally nearly finished. What are the final steps to close probate? We’ll explain the accounting, receipt and releases, and the reserve.
The post E294 How to Close a Probate Estate in New York appeared first on Anthony S. Park PLLC.
How do you find the original will after someone dies? We’ll cover where to search, how to get access, and what happens if you can’t find the original.
The post E293 How to Find the Will appeared first on Anthony S. Park PLLC.
Whether it’s because your friends and family lack knowledge, or because you don’t want to leave behind stress or drama, there are many reasons why so many Bitcoiners feel they don’t have anyone to name as their executor.
The post E292 Help! I Don’t Have a Bitcoin Executor for My Will appeared first on Anthony S. Park PLLC.
Is the highest offer the strongest offer? Not necessarily, especially in probate. Sometimes an heir or a co-executor believes they can get a higher offer. Then, all things being equal, we should take that offer. However, it’s unusual that two offers are identical. There are other factors to take into account besides the price.
The post E291 What is a Strong Offer on Probate Real Estate? appeared first on Anthony S. Park PLLC.
A few Solo Agers have asked if they can use beneficiary designations instead of a traditional estate plan. We’ll explain some pros and cons of beneficiary designations, and why a professional executor may work better.
The post E290 Professional Executor vs Beneficiary Designations for Solo Agers appeared first on Anthony S. Park PLLC.
Most people correctly assume you need a local executor in New York, but they may not know exactly why. Let’s review a few real-world scenarios and reasons why you need an executor local to New York.
The post E289 Why You Need a Local Executor in New York appeared first on Anthony S. Park PLLC.
“There’s no such thing as a perfect estate plan,” Sherlock Holmes would probably say if he did probate. What we mean is that things may not work out the way you plan, no matter how hard you try.
The post E288 There’s No Such Thing as a Perfect Estate Plan appeared first on Anthony S. Park PLLC.
How long does probate take in New York if the estate includes bitcoin? As we talked about in a prior blog How Long Does Probate Take in New York, generally probate takes 15 months or longer; sometimes up to 3 years. Those numbers are actually on the lower side, because of post-covid delays that we are dealing with now.
Here we will discuss how a new-ish asset like bitcoin may add some delays.
The post E287 How Long Does Probating Bitcoin Take in New York? appeared first on Anthony S. Park PLLC.
Many of our Solo Agers wonder “how will my executor know I died?” (Especially if they’ve chosen me as their professional executor, as opposed to someone they see daily). Solo Agers tend to live alone, so this is a very understandable and common question.
The post E286 How Will My Executor Know I Died? appeared first on Anthony S. Park PLLC.
Every executor faces the tax risks unless they get proper tax clearance, which can take a LONG time. Here’s how we’ve seen that plays out with professional executors, non-estate attorneys, and amateur executors.
The post E285 How Professional Executors Manage Tax Clearance Delays appeared first on Anthony S. Park PLLC.
Here are our tips for cleaning out the decedent’s home and getting it presentable for sale.
The post E284 Tips for Cleaning Out Deceased’s Home appeared first on Anthony S. Park PLLC.
Probating bitcoin is more complicated than usual probate. We’ve discussed the 3 stages of probate generally. Here, we’ll describe some specifics of the process for when the decedent owned bitcoin.
The post E283 5 Stages of Probating Bitcoin appeared first on Anthony S. Park PLLC.
How does receiving an inheritance change your own Solo Ager estate plan? A family inheritance will increase the size and complexity of your estate, so let’s discuss what that means for Solo Agers.
The post E282 When Receiving an Inheritance Changes Your Solo Ager Estate Plan appeared first on Anthony S. Park PLLC.
Does the MTA covid death benefit have beneficiaries, and if not, who should inherit? The MTA is paying a pretty generous amount (about $500,000) to the estate of any employee who passed away with or from covid. The requirements seem to be tightening up a bit, but we’ll see what comes of it.
The post E281 MTA Covid Death Benefit and Beneficiaries appeared first on Anthony S. Park PLLC.
We often get hired when someone has died, but no one wants to be the executor. Sometimes there was a will with nominated executors who don’t want to serve. Other times there was no will, but none of the next of kin want to do the job. So they hire us as the professional executor.
The post E280 Someone Died, But No One Wants to be Executor appeared first on Anthony S. Park PLLC.
We’ll discuss how to sell a loft in probate. This is yet another type of apartment that is unique to New York. We’ve talked about co-ops in the past, which seem mind-boggling to many people (even New Yorkers).
The post E279 How to Sell a New York City Loft in Probate appeared first on Anthony S. Park PLLC.
How do you probate a Bitcoin miner’s estate? We’ll cover: what a miner looks like, whether to keep the miner running through probate, and how miners will probably have yet another wallet to figure out.
The post E278 How to Probate a Bitcoin Miner’s Estate appeared first on Anthony S. Park PLLC.
Many of our Solo Ager clients ask if I’ll serve as their successor (not primary) executor. The short answer is yes. We discuss why solo agers ask for successor executors.
The post E277 Professional Successor Executor for Solo Agers appeared first on Anthony S. Park PLLC.
We’ll share 3 recent problems we encountered while selling probate real estate: a bad septic tank, firing a broker, and co-op listing prices. We’ll share these stories with you and add key takeaways for executors and those facing probate.
The post E276 Problems Selling Probate Real Estate: Septics, Brokers, and Co-op Listing Prices appeared first on Anthony S. Park PLLC.
Many non-US heirs need a professional executor to get federal transfer certificates.
The post E275 US Professional Executor for Federal Transfer Certificates appeared first on Anthony S. Park PLLC.
How will your executor handle a Bitcoin winter (or crash) like the one we’re living through now? We’ll compare a few likely scenarios depending on who you’ve chosen as your executor.
The post E274 How Will Your Executor Handle a Bitcoin Crash? appeared first on Anthony S. Park PLLC.
Our solo ager clients often ask “who should draft my will? Should I do it myself or hire a lawyer?”
The post E273 DIY Will vs Lawyers for Solo Agers appeared first on Anthony S. Park PLLC.
Sometimes the small personal effects can have a big impact. It may be the irreplaceable keys to the loft, the invaluable smartphone, or treasured photos in the wallet.
The post E272 What Happens to Personal Effects When Someone Dies? appeared first on Anthony S. Park PLLC.
Today we describe some real-world examples of mistakes made by non-professional executors dealing with probate real estate.
The post E271 Non-Professional with Probate Real Estate appeared first on Anthony S. Park PLLC.
When someone passes away, it is the executor’s job to gather the decedent's assets. What are the Bitcoin wallets executors may overlook? We’ve discussed how to look for common bitcoin key storage, such as hardware wallets, software wallets, and seed phrases. But a professional bitcoin executor will also find these others.
The post E270 3 Bitcoin Wallets Executors Overlook appeared first on Anthony S. Park PLLC.
Business valuation is tricky even under the best circumstances. And the probate process adds a few more twists.
The post E269 Business Valuation During Probate appeared first on Anthony S. Park PLLC.
To my surprise, we keep getting calls from Solo Agers in California asking me to serve as their executor and trustee. Let's explain why this is surprising.
The post E268 Professional Executor and Trustee for California Solo Agers appeared first on Anthony S. Park PLLC.
Our clients want a professional executor for many reasons. Most commonly they have no heirs, or their family lives abroad. But those aren’t the only reasons. We’ll share a few recent examples of why clients want a professional executor.
The post E267 Why They Want a Professional Executor appeared first on Anthony S. Park PLLC.
After someone dies with Bitcoin, among all the other chaos, are questions about taxes. How do you pay capital gains from during the decedent’s life? Or if he was a long-term holder, how much capital gains tax will the heirs owe? What about estate tax?
The post E266 Bitcoin Taxes During Probate appeared first on Anthony S. Park PLLC.
What happens during a late probate, meaning you don’t begin the probate process until many years after death? In a recent case, we probated an estate 40 years after death. This case study shows just a few problems with late probate.
The post E265 Late Probate 40 Years After Death appeared first on Anthony S. Park PLLC.
What happens if you become a Solo Ager later in life? How does this happen? How does this affect you toward the end of your life? And what are some consequences to your probate estate?
The post E264 3 Lessons from a Late Solo Ager appeared first on Anthony S. Park PLLC.
There are many excellent probate lawyers who would be terrible executors. Why? Let’s break down what you need to have to be a professional executor.
The post E263 Not All Lawyers are Good Executors appeared first on Anthony S. Park PLLC.
Let’s talk about 3 common suggestions that are bad bitcoin inheritance plans. Why so negative? Why talk about bad bitcoin inheritance plans, rather than the good? Well, sometimes the process of elimination can help focus our thoughts, so we better understand what makes the good plans “good.”
The post E262 3 Bad Bitcoin Inheritance Plans appeared first on Anthony S. Park PLLC.
Hurray, you’re finally in contract and ready to close on the sale of the estate’s business. You already did all the hard work preparing to sell the business, now make sure you cross the finish line and close the sale properly.
The post E261 How to Close on Sale of Business in Probate appeared first on Anthony S. Park PLLC.
The following are three recent questions from our Solo Ager readers. Thanks for your questions!
The post E260 3 Recent Solo Ager Estate Plan Questions appeared first on Anthony S. Park PLLC.
Hiring a professional executor is particularly useful for non-US heirs. Most state rules make it tough for you to be a US executor if you are not from or currently living the US.
The post E259 Professional Executor for Non-US Heirs appeared first on Anthony S. Park PLLC.
As the default recommended multisig quorum, there must be lots of 2 of 3 multisig holders out there. So let’s make sure your 2 of 3 multisig also works as well upon your death as it does while you’re alive.
Three things to think about: who has your third key; access to keys 1 and 2 upon death; and consider a 2 of 4 multisig.
The post E258 Bitcoin Estate Planning for 2 of 3 Multisig appeared first on Anthony S. Park PLLC.
Probate is already a slow process, and recent IRS processing delays are making probate even slower.
Most probate cases must receive IRS tax clearance in order to close the estate. Otherwise, the executor and heirs are at risk for lingering tax problems and getting hit with unexpected tax bills later. Once the heirs understand this, they are fine with taking the time to close the estate properly!
The post E257 How IRS Processing Delays Are Slowing Down Probate appeared first on Anthony S. Park PLLC.
If you have a multisig, who should hold keys as part of your bitcoin inheritance plan? Multisig is a great way to reduce risk of theft or catastrophic loss by reducing single points of failure. Michael Flaxman does a nice job explaining why to use multisig.
The post E256 Multisig Keys for Bitcoin Inheritance Planning appeared first on Anthony S. Park PLLC.
Lots of people like to keep cash and valuables hidden at home. But what if you do too good a job of hiding them that even your executor can’t find them? They could end up lost or thrown away. Let’s discuss how to avoid that.
The post E255 How Solo Agers Should Hide Cash and Jewels at Home appeared first on Anthony S. Park PLLC.
Selling probate real estate can be tough because properties are usually out of date, very “lived-in,” and attract discount buyers.
Here are a few minimum renovations and repairs that executors should consider in order to receive a flow of serious buyers, without spending too much in estate funds.
The post E254 Best Renovations to do Before Selling Probate Real Estate appeared first on Anthony S. Park PLLC.
What do you do if someone dies owning Bitcoin, but you have NO IDEA how Bitcoin works? How do you recover the Bitcoin, so it doesn’t get lost forever? Right now, Bitcoin is delicately owned, meaning the tools of ownership are still being ironed out. It’s still very easy to have an accidental catastrophic loss.
The post E253 3 Steps When a Bitcoin Owner Dies appeared first on Anthony S. Park PLLC.
Listener, Raymond, asks: “What happens to your clients if you die? By you, I mean Anthony S. Park. Who is your backup?” He posted this question on a professional executor video, so we’ll answer in the context of me being a professional executor as opposed to being an attorney.
The post E252 What Happens if Your Professional Executor Dies? appeared first on Anthony S. Park PLLC.
Our Solo Ager clients often ask, “Do I have to tell an heir that I’ve named them in my will?” For one reason or another, you may not be sure what to do. We will discus the pros and cons of telling your heirs they have been named in your will.
The post E251 Should Solo Agers Tell Heirs About Inheritance? appeared first on Anthony S. Park PLLC.
Jimmy Song recently published a great article about what the Taproot upgrade could be for Bitcoin estate planning (video here). Taproot is the recent upgrade to the Bitcoin protocol, and we’ll do our best to outline Jimmy's article in layman’s and through the lens of an experienced executor.
The post E250 What Does Taproot Mean for Bitcoin Estate Planning? appeared first on Anthony S. Park PLLC.
When you name me as your professional executor or trustee, we have an annual “check-in” call or email to make sure I’m up to date on your plan and wishes.
The post E249 Annual Professional Executor Checklist appeared first on Anthony S. Park PLLC.
If you hold bitcoin, 2022 may be the time to make your New Year resolutions to get your Bitcoin estate planning in order.
The post E248 Your Bitcoin Estate Planning New Year Resolutions 2022 appeared first on Anthony S. Park PLLC.
As we know, Solo Ager estate plans are a bit trickier than other estate plans. We recommend that our clients take a look at their estate plan every 4 to 5 years. However, for Solos Agers, we suggest a light annual review.
The post E247 Solo Ager Annual Estate Plan Review appeared first on Anthony S. Park PLLC.
Did you know that heirs of MTA workers who died of COVID19 may receive a $500,000 death benefit?
The post E246 How to Collect the MTA COVID19 Death Benefit appeared first on Anthony S. Park PLLC.
What happens to your crypto on exchanges when you die?
The post E245 What Happens to Your Crypto on Exchanges When You Die appeared first on Anthony S. Park PLLC.
So, you finally did it: you made and signed your will.
The post E244 Who Should Have the Original Will? appeared first on Anthony S. Park PLLC.
When one of the heirs won’t leave the family home, what can you do?
The post E243 Heir Won’t Leave the House appeared first on Anthony S. Park PLLC.