Tag Archives: deceased

Who Pays Your Debts When You Die?

According tk15365456o a U.S. News and World Report story out this week, most probably your unpaid bills will be subtracted from any inheritance you leave to your loved ones.

In 2013, more than 61% of senior households had an average of $40,900 in debt.  And it’s likely that many will die with those debts unpaid.

If you don’t have any assets, your debts may die with you.  However, if you have assets, your creditors may be able to collect what they’re owed from those assets and the amounts subtracted from what your heirs will inherit.

How debt is handled depends largely on the state in which you are living at the time of your death.  Nine states are “community property” states.  That means your spouse is responsible for any debt incurred during the marriage.  In other states, a spouse is not responsible for bills that are solely in the other spouse’s name.  And some types of assets, such as retirement accounts and life insurance payouts, usually can’t be claimed by creditors.

The story goes on to list six things to do if someone you love has debt when they die:

1)      Consult a probate attorney.

2)      Notify creditors of the death.  Once this is done, those accounts are frozen.

3)      Catalog your loved one’s assets.

4)      Determine what your loved one owes.  That will help determine what, if anything, needs to be sold to pay the debt.

5)      Have beneficiaries file for assets that pass without probate.

6)      File tax returns.  Even after death, tax returns need to be filed on time.

For more information about estate planning and helpful hints on what to do when settling a loved one’s estates, check out our website www.diesmart.com.

Are your loved ones protected when you die?

last-will  Larry and Susan had been living together for more than 20 years.  They never legally married; they said once had been enough.  A piece of paper wouldn’t change how they felt about each other.  Larry had been married before and had two sons.  Susan had also been married previously and she had a daughter.

When Larry’s father became incapacitated, they moved into his house to take care of him.  His father, to thank them for all they’d done, left the house to Larry in his will and named Larry beneficiary of his life insurance policy.  When his father died, Larry inherited the house and Susan and Larry continued to live in the house.  Larry promised to deposit the check from the insurance company into their joint bank account as soon as it arrived.

As Larry was crossing the street on his way home from work one day, he was struck by a car driven by a drunk driver and he died almost instantly.

Larry didn’t have a will and had not left any legal document naming Susan as his heir.  They lived in a state that did not recognize common law marriage so, when he died, his sons inherited everything.  They forced Susan to move out of the house and refused to give her any of the proceeds from the life insurance policy.  In essence, Susan was left with almost nothing!

Families today are very complex.  Some are the traditional married mother and father in their first marriage.  Many more are couples who were previously married to other spouses or who are legally married gay couples.  However, many people live together without benefit of a legal ceremony. This mixture of circumstances makes inheritance much more difficult and complex.

The only way to be sure your loved ones are protected is to prepare a will or a trust naming the person(s) you want to inherit your assets when you die.  Otherwise, state law will dictate who receives what.  Not you. It’s frightening that more than half of the people living in the United States today do not have a will and have not protected their loved ones. You can find a simple will form on the internet or can meet with an estate planning attorney to discuss the options that are best for you.

Don’t be like Larry.  Act now so those you love will be protected when you’re gone. For more information about wills and estate planning, go to www.diesmart.com.

Twitter – When do the Tweets stop?

If a Twitter user dies, here are the steps you must take to remove his or her account or to save a backup of their public Tweets.

Contact Twitter at privacy [Email address: privacy #AT# twitter.com - replace #AT# with @ ] or by mail or fax at:

Twitter Inc.
c/o Trust and Safety
795 Folsome St., Suite 600
San Francisco, CA 94107
Fax: 415-222-9958

In the letter that you send, include the following information:

  1. Your full name, contact information (including email address) and your relationship to the deceased user.
  2. The user name of the Twitter account or a link to the profile page of the Twitter account.  
  3. A  link to a public obituary or other news article about the account holder’s death.

For more information about closing out social media and other accounts when someone dies, check out our book “Grave Robbers…How to prevent identity theft of the deceased.”


Yahoo – What happens to a deceased’s online account?

Any free Yahoo account will automatically be cancelled after it has been inactive for 90 days.  Premium services, however, will continue to be charged until Yahoo has been officially notified of the death of the account holder.

Only a person who has the authority to settle the deceased’s estate, i.e. an executor, can notify them about the death.  To do that, the following information must be sent to Yahoo at Custodian of Record, Yahoo Inc., 701 First Ave., Sunnyvale, CA 94089-1019:

1) The executor’s identification.

2) Notification of their appointment as executor.

3) A Copy of the death certificate.

What if the executor or family member just wants the deceased’s password or access to their Yahoo account?  No password will be issued by Yahoo to the executor or anyone else.

If you’d like more information about this or other related topics, check out our book “Grave Robbers…How to prevent identity theft of the deceased”.

MySpace – Does this digital space stay mine forever?

The simple answer is yes.  If no action is taken, your account will remain in cyberspace forever.

However, the MySpace account of someone who is deceased can be cancelled by their next of kin (mother, father, spouse, domestic partner, son or daughter).  That person will need to send proof of death (obituary or death certificate) to accountcare [Email address: accountcare #AT# support.myspace.com - replace #AT# with @ ].  That email should come from the personal email account of the person who is writing.  It should include an explanation of that person’s relationship to the deceased and the deceased’s MySpace friend ID (which can be found by clicking on the profile and copying the string of numbers or letters at the end of the URL) as well as the specific request to delete the profile.

Other options available are to preserve the profile as is or to remove some of the content that may no longer be appropriate.  MySpace will be glad to remove any content that is found objectionable.

Another choice is to create a memorial for the deceased – a group page to honor that person.  That page is then linked to the deceased’s MySpace profile.

If there is access to the email account tied to the deceased’s MySpace profile, the password can be obtained thru the Forgot Password link located on the MySpace home page.  If there is no access, the password will not be provided by MySpace.

To learn more about how to protect digital assets, check on our book “Grave Robbers…How to stop identity theft of the deceased.”