Category: Estate Planning
Two real-life Lex Luthors took advantage of the elderly widow of the DC Comics publisher who brought Superman to news stands by convincing her to leave them large sums of cash from her $50 million estate, court papers charge. When Shirley Liebowitz, the late widow of Jack Liebowitz, passed away at the age of 96 it was […]
There have been rumors circling the internet that China will impose a long-proposed inheritance tax in 2016, dropping a bombshell on the extremely wealthy. As is often the case in countries that experience rapid economic expansion, most of the new wealth is concentrated in a small percentage of the population. And China is no exception. […]
Parents should do what they want with their money, says Kotzer, but they should also think of the consequences. “Will my children be talking after I die?” Unsatisfied siblings have been known to fight for years about their parents’ estate and never even talk to each other again. Don’t let this happen to your family. […]
Good advisors recommend their clients of all ages have powers of attorney (“POAs”) in place. But the biggest and apparently most hotly debated question is whether or not POAs should spring—meaning whether they should be effective immediately upon execution (typically the statutory default) or whether they should become effective only upon a determination that the principal […]
Here is a quick review of some key estate planning developments that occurred in 2014. The only true constant in life is change itself. With that being said, what changed for estate planning in 2014? Let’s take a look back at 2014 and determine how this will impact 2015. Recently, the Wills, Trusts & Estates […]
The year 2014 will be remembered for many things, to include celebrity deaths. The details of another celebrity’s estate have recently been revealed. This time it is the estate of late actor Bob Hoskins. Unlike some other celebrity estates, Hoskins’ is fairly ordinary. Actor Bob Hoskins passed away last April at the age of 71. […]
Did you know pets are property, much like your clothes, lawn mower and costume jewelry in the eyes of the law? It’s true. For many people, however, pets are more than just best friends. They are a valued member of the family. Question: Can you direct that your pets be put to sleep after you […]
Do you have a revocable living trust? Are you thinking about creating (or updating one) in the New Year? Either way it is important to transfer your assets into that trust, including any real estate that you own. Estate planning attorneys who draft trusts for their clients always advise those clients to transfer assets into […]
No one really wants to do it. I mean, it makes one face the realities of one’s own mortality. For many people writing a will can be a daunting task. Along with avoiding eye contact with death, it can be difficult to decide what to do with your assets after you pass away. However, once […]
A fool and his money will go separate ways. So it is with many an inheritance. People often fear that leaving large sums of money to their relatives will result in those relatives blowing the money on things they do not need. A recent case in the United Kingdom demonstrates that this is not an […]
