Category: Estate Planning
With the changes in the tax law, most estates today are not required to pay federal estate taxes and that also means there is no need to file the estate tax forms. For many who fall below the threshold, it doesn’t make sense to pay a professional to file the estate tax forms. There are, […]
Boomers are devoted parents, and their children, who struggle with a challenging economic environment, appreciate the help. But as more money flows out of retirement accounts to help the next generation, inheritances are shrinking. Older Americans are increasingly finding themselves transferring money to their adult children, for the sake of supporting those adult children, ultimately, […]
Best known as a Prohibition era lawman who battled against powerful mobsters, Elliot Ness had a second career as the CEO of Diebold. Through a chain of unlikely events, a stock certificate dating back decades was found – but his estate is now battling with Diebold to get the company to pay up. Believing that […]
Surprisingly, a recent report shows that a third of all millionaires do not have an estate plan. The problems this creates are part of the legacy they leave to their heirs. People who have very few assets and who are comfortable with those assets being passed on to their closest living relatives may not have […]
It’s been more than 22 years since Audrey Hepburn’s death, and her two sons still can’t divide up her belongings. The late “Breakfast at Tiffany’s” star’s children, Sean Ferrer from her first marriage and Luca Dotti from her second marriage, are fighting over a storage unit filled with posters, photos, costumes, awards and other memorabilia, […]
You’ve spent a lifetime building your estate. Now it’s time to decide how it will be distributed. Handing down your wealth is not as simple as writing a check or naming a beneficiary; you want to make the best decisions to preserve your financial legacy. Thomas Brockley, senior vice president and branch director at RBC […]
The Vanderbilt family has fallen into a full-blown public spat with the nonprofit organization that now owns their spectacular Rhode Island mansion called The Breakers. The Breakers is currently owned and maintained by the nonprofit Preservation Society of Newport that proposes to build a visitors center on a currently empty portion of the estate to […]
Unconfirmed reports point to a battle between the Houston family and Whitney’s ex-husband, Bobby Brown, over daughter Bobbi Kristina’s end-of-life care. Beyond moral considerations, however, there are tens of millions of dollars playing a behind-the-scenes role in the conflict. Whitney Houston’s will did not leave her daughter, Bobbi Kristina Brown, an inheritance in a single […]
The U.S. Wills Registry is an online service that offers to keep track of the location and holder of a will. Would you use this service? As reported by the Wills, Trusts & Estates Prof Blog in a recent article titled “New Service to Track Location Of A Will,” the new U.S. Will Registry now […]
Wills occupy a curious place in our collective psyche. They are one of the oldest forms of legal document, having existed in written form since Anglo-Saxon times. They are, wrote Dickens, “the curious old records of likings and dislikings; of jealousies and revenges; of affection defying the power of death, and hatred pursued beyond the […]
