Many NY beneficiaries become surprised to learn that instead of inheriting gifts from you, they have now inherited your debts. The last thing you would want your loved one to experience in the midst of grieving for your loss is the sound of the phone ringing with a creditor or debt collector on the other [...]
But which is which? There are two common ways to distribute your assets to your beneficiaries in your will or trust–either “per stirpes” or “per capita”. These terms (as you might have already guessed) are Latin and are worth knowing a little more about. Let’s say in our scenario you want to write your will [...]