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How Debt Destroys Your Estate

Many people today worry about the amount of money left to their surviving family members. It is difficult to organize all of your finances and make those decisions. One variable that many people have to deal with is debt in an estate. Some people run out of money in retirement and must figure out a way to pay for food and medical expenses. Debt is the only way to keep the lights on and the mortgage paid. In many cases, family members are left with a financial mess to clean up after their loved one passes away.

The Dangers of Debt

There are many forms of consumer debt that leave you financially trapped. Credit cards with high rates of interest are just one example. For retired people, this is the easiest way to get access to cash. Without new sources of income coming in, it is also almost impossible to pay back over time.

Tips for Family Members

If you have a family member entering a late stage in life, watching their finances is always a good idea. A lot of people wait until someone passes away before they start getting their finances organized. This is where family members typically find thousands of dollars or more in debt no one knew about.

Getting Help

If you find yourself in a rough situation with debt and an estate, there is hope to get organized. Our office deals with people every week in this situation. With our experience in the field, we will help you develop and execute a plan that makes the most sense based on your goals.

Categories: Estate Planning
  • Our Guarantee to Our Clients

    We promise to represent your best interests and keep you fully informed.

    Read Our Guarantee
  • Bankruptcy eBook

    Get a FREE eBook to become more familiar with the bankruptcy process.

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  • Our Video Center

    Click here to access a list of our firm's videos.

    Get More Information
  • When You're Ready To Talk

    We're ready to listen. Contact us to receive a free initial consultation.

    Request a Consultation

When You're

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"The Law Offices of James C. Shields is located in Torrance and proudly serves clients all throughout the South Bay including:

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Law Offices of James C. Shields - Torrance Bankruptcy & Estate Planning Attorney
Located at 21707 Hawthorne Blvd, Suite 204
Torrance, CA 90503.
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Phone: (888) 910-6652
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