One common way to try to avoid probate of real estate after the owner dies is to hold the title to the property in joint names with rights of survivorship with children or other beneficiaries. While the best way would be to set up a revocable trust and fund the trust with the property, it can be accomplished…
DetailsAs Thanksgiving, Christmas, New Year’s and the winter holidays approach, you might be daydreaming about a skiing trip to Mammoth or a Hawaiian vacation to escape the cold. Or you might be savoring (or, perhaps, less then eagerly anticipating) the thought of reconnecting with your extended family, who’s typically scattered across the country. Whether you’re…
DetailsWhile most Baby Boomers have wills in place, millions of soon-to-be-retired Americans haven’t yet established estate plans and made critical decisions about future care. Many also don’t appreciate the sheer diversity of planning instruments available to ensure their wishes, protect their assets and prevent fighting among beneficiaries. A living trust, for instance, provides a slate…
DetailsActor Robin Williams’ widow and three children recently settled a dispute over his estate that began just months after his death at age 63. At the heart of the matter was a question over the meaning of specific words in the trust paperwork – including which personal items should be considered “memorabilia” and “jewelry.” Questions…
DetailsIn 2008 the National Association of Estate Planners & Councils (NAEPC), in conjunction with Rep. Mike Thompson (D-CA) and 49 of his colleagues, helped pass a law which declared the third week in October “National Estate Planning Awareness Week.” This year National Estate Planning Awareness Week falls on October 19 through 25.
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Millions of fans mourned the 2014 death of actor Robin Williams – no one more so, perhaps, than his wife and his three children. Just a few months after his passing, however, the family he left behind became locked in a new and heated struggle: a dispute over how to interpret specific instructions in the actor’s estate plan.
Details(Note: I am not a vampire; I’m not even a legal eagle; however, as a mere mortal who happens to work in the best estate planning law firm in this non-supernatural realm, even I know it’s important to plan ahead!)
Yes, even the undead need an estate plan. After you stop laughing you need to hear me out. As we’ve learned from the likes of The Vampire Chronicles, the Twilight saga, and HBO’s True Blood, vampires aren’t immortal. They do die, and it’s usually unexpected and messy.
DetailsPerhaps you first obtained life insurance 10 or more years ago, but you haven’t updated your insurance plan (or thought about it much) since. You should consider reviewing your policies. A re-assessment has the potential to pay off significantly. The insurance industry has come to understand that we are all living longer than they originally…
DetailsYou and your spouse have worked hard and saved. You’ve enjoyed the good fortune of having assets that have appreciated over time. At the same time, you’re confused about which estate planning solutions can help you preserve your assets and allow you to pass on your wealth without your having to pay exorbitant state or…
DetailsOne common way to avoid probate of real estate after the owner dies is to hold the title to the property in joint names with rights of survivorship with children or other beneficiaries. This is accomplished by adding the names of the children and certain legal terms to a new deed for the property and…
DetailsWhat is a Lifetime QTIP Trust? One traditional estate planning model for married couples makes use of the “AB Trust” strategy. After the first spouse dies, the “B Trust” holds an amount equal to the federal estate tax exemption (currently $5.34 million in 2014), and the “A Trust” holds the excess. The “A Trust” is…
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