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The Clock is Ticking: How Delays Drain Estates
Manage episode 491194389 series 2954717
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Many families delay handling estate matters after a loved one passes—understandably due to grief or uncertainty—but that delay can have real financial and legal consequences. In this episode, we walk through the top cost drivers that come from waiting too long and why getting started early (even in small steps) makes a big difference.
Outline
- Why timing matters
- Cost driver #1: Missed Tax deadlines
- Cost driver #2: Frozen assets and investment losses
- Cost driver #3: Higher legal and administrative fees
- Cost driver #4: Family Conflict and Litigation
- Cost driver #5: Creditor Claims & Lawsuits
- Cost driver #6: Lost of tax election and disclaimers
- Cost driver #7: Delayed Distributions
Speak to a professional to understand timelines and take the first steps:
Connect with Tammi Caress
https://www.linkedin.com/in/caresslaw/
Links and Resources
Download What to do when a love one dies: https://caresslaw.estate/estate-planning-resources/estate-administration-probate-checklist/
Check our website for our free on demand and live webinars: https://caresslaw.estate/estate-planning-workshops/
Follow the podcast in Apple Podcasts or Spotify
https://podcasts.apple.com/us/podcast/navigating-estate-planning-with-caress-law/id1576876621
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