Of course, anyone who doesn't have a will or has had a significant change in circumstances--a marriage, the birth of a first child, a divorce, a financial windfall, a change in state of residence--needs to act.
The blame, according to Mr. Halperin, should have rested with the CIA and Welch, himself, for having failed properly to appreciate and act upon threats to his safety arising from his choice of residence.
All of that said, the Mortgage Forgiveness Debt Relief Act of 2007 generally allows taxpayers to exclude from income from the discharge of debt on their principal residence.