For the funeral industry, the COVID-19 pandemic has meant flush times. Revenues have surged at Service Corporation International, the largest such chain in the U.S., with more than 1,500 funeral homes and 400 cemeteries. And “COVID impact,” according to a recent investor fact sheet, helped SCI more than double its earnings per share between 2019 …
Your loved one has died, and creditors start calling on outstanding debts. It’s not fun but dealing with this is easy. I typically advise people to get as many certified copies of the death certificate as they need for outstanding creditors. When my parents died and creditors called, the process was simple: Advise the creditor …
Depending upon the circumstances, grief can be all-consuming, and having to face the complexities of dealing with leftover debts can feel like an insurmountable challenge. This is a general guide to assist you in better understanding how to manage a deceased person’s debts. If you remain unsure or generally feel overwhelmed by the task, it’s …
Question: Dear Steve, My husband found out last week he has cancer 6 months to live he is the sole provider we got a loan joint on his income only. When he passes retirement, disability and ss will be cut off. I am afraid the loan company will freeze our bank account. I will have …
Life insurance offers financial protection for your loved ones in the event that you die unexpectedly. When a pandemic becomes world news, you may start to consider the necessity of purchasing a policy or wonder how news of an outbreak might shape the policy you already have. A global health crisis like the widespread COVID-19 …
Steve Rhode posted an essay yesterday titled “Make Sure You Die Before Your Parent Plus and Federal Student Loans Are Forgiven.” As Mr. Rhode explained, the federal government cancels all unpaid student loans owed by debtors who die before their loans are repaid. The canceled debt is not a burden on the deceased debtor’s estate. …
“Dear Steve, My mom recently passed away and she has a credit card in her name on which I was an authorized user. My Dad who is still living was not on the account and did not know she had the card. I have been paying the bill for the last few months as my …
“Dear Damon, My husband passed away Febuary 16 of this year and was very sickly all of 2012 with leukemia and when he got sick lost his job 2 month after finding out he was sick. Money situation got bad he was able to get long term disability insurance it helped with some of the …
“Dear Steve, I have been diagnosed with advanced prostate cancer which is terminal. What will happen to my debts after my death, would it be better to make myself bankrupt before this happens as I have no assets whatever? Dave” Dear Dave, First off I’d like to send you out a big virtual hug and …
“Dear Steve, Dad recently passed away. He had one credit card in his name, with mom as an authorized user. Balance on the card is approx 10K. They live in WA state, which is generally a community property state, however they legally disolved the community property agreement and all assets were put in moms name …
