#15 - 3 Ways To Handle New Information
Reluctant Executor News
You should never stop learning. There are well documented health benefits to keeping your mind active and sharp. But what about the things you learn that you just know you'll never need again? There are 3 options:
Learn it, then forget it.
Don't bother learning it. Hire a professional that already knows that info instead.
Learn it, then share that knowledge with others.
I picked option #3 after helping close my dad's estate. Below are two of the more obscure learnings.
LinkedIn post from June 7, 2023
There are a lot of important issues to deal with after a family death. These take a lot of energy to make sure you're doing the right thing, the right way.
But then there are some that are just plain annoying, like a $10 tax bill.
Different taxing jurisdictions across the county have different sets of taxes they collect.
Pennsylvania has a Per Capita, or "Personal Tax", where municipalities and schools can collect $10-$15 from any resident.
Apparently even dead ones.
My mom recently received a property tax bill where this per capita tax was added in for both her and my dad. It ended up being simple to get this removed, but it was annoying that nearly a year after he died, there were still trivial things to take care of.
What other obscure, minor, and annoying things have you had to deal with?
Click here to comment or like this post on LinkedIn.
LinkedIn post from April 18, 2024
Have you ever heard of IRS Letter 2645C?
This is a cryptic letter that says the IRS has opened an investigation, and will notify you within 60 days of the results.
No mention of what the investigation entails.
It seems suspicious, especially if you never contacted them about an investigation.
Now, imagine receiving this letter as an elderly widow or widower for your deceased spouse.
And the only details were that it was in regards to something from 6 years ago.
This is exactly the situation a family was in recently.
Fortunately I was able to get someone from the IRS on the phone.
Turns out the IRS made a mistake. The account was "accidentally" linked to someone else's.
We were relieved that this situation got resolved.
We were also worried that this mistake was allowed to happen in the first place.
Now imagine if this happened to someone who didn't have a support network to investigate.
Your stress may increase by not knowing what is going on.
You may forget about it and then be hit with a huge fine.
Or you may receive a huge refund.
But then more problems cascade if it was an error to begin with.
These unexpected situations pop up more than most people realize.
If you're a client of Reluctant Executor, we will help with unexpected situations.
Even if it's after our engagement ended.
Surprises don't have a time limit, and neither should your relationship with an After Loss Professional.
If you need help with administrative surprises after a loss, reach out to me.
Click here to comment or like this post on LinkedIn.
Reluctant Executor Services
In addition to these 2 obscure learnings, closing an estate teaches you hundreds of other things that you never thought you'd need to know. Executors report taking 18 months to wind down an estate. Reluctant Executor can help ease this burden by sharing information we've already learned.
If you or someone you know needs this type of support, contact me at Bill@ReluctantExecutor.com