Philadelphia probate law and commercial litigation blog

Often, people die with a variety of financial obligations that need to be sorted out and addressed to settle their affairs. The executor of the estate normally pays any outstanding bills with a deceased person’s available assets.

Regardless of whether you have been named as an executor of someone’s estate or are just wondering what your responsibilities are when a family member dies, the prospect of potentially being on the hook for debts is likely to make you uneasy. Here are some questions and answers about various scenarios regarding outstanding credit obligations after death.

When you are running a business, it seems that there are not enough hours in the day to accomplish everything that you need to do. If you're accused of a partnership agreement breach you may feel confused, threatened and angry all at the same time.

Businesses small and large go through breach of partnership litigation each year in part because the enterprise has an inadequate or non-existent partnership agreement. Here are some ways to handle your situation if someone claims you compromised a partnership agreement.

You have worked hard to establish your farm and to build up the success. As the success continues, you have to start making plans for your farm's future. One of the things that you should do is to create a succession plan.

A succession plan outlines what is going to happen to the farm when you retire or die. It sets up the protocol for the change of management or ownership. This helps to ensure that all of your hard work isn't lost when you aren't the one who is running the farm. Here are some points to remember about farm succession plans:

When you create an estate plan, you add your assets to that plan. You list everything you own, including your home, vehicle and other property. One type of asset you may not have considered adding are your digital assets.

It's important to have a record of everything you own, whether it's something tangible or not. If you don't, the asset could go missing and be lost to your estate forever. That's the last thing you want, especially if your digital assets are worth a lot of money.