The management of deceased bank accounts is a crucial but often overlooked part of dealing with the death of a loved one. Handling these accounts involves legal processes and regulatory requirements, ...

A decedent's gross estate includes most assets and property they owned or had an interest in at death, used to calculate estate taxes. Some assets, however, may be excluded, affecting the estate's ...

Income in respect of a decedent (IRD) is money owed to a person before they passed away (e.g., wages). The person or entity ...

Learn what constitutes an estate, the essentials of estate planning, and how to draft your will to effectively manage asset ...

Get Morningstar's essential reading for financial professionals in Advisor Digest. This month and next, I'll offer a detailed look at the issues and obligations that executors face when retirement ...

Opinions expressed by Digital Journal contributors are their own. While much of the debt collection industry is structured around scale and volume, Phillips & Cohen Associates (PCA) developed its ...

Despite ultimately finding in favor of a taxpayer surviving spouse, IRS Private Letter Ruling 2023-22-014 (the “PLR”) is chock-full of reasons to ensure proper planning is in place when it comes to ...

When retirement benefits are payable to a decedent’s estate, what unique obligations and opportunities does the executor of the estate have with respect to those benefits? Last month, we looked at the ...

The U.S. Court of Appeals for the Fifth Circuit has affirmed a district court’s decision that gave priority to an Internal Revenue Service levy on a decedent’s estate over the decedent’s children’s ...

A loved one's unpaid card balances don't always just disappear after death. Here's what their families should know.

This content is contributed or sourced from third parties but has been subject to Finextra editorial review. Every year, health systems across the United States write off hundreds of millions of ...