Category: Will
The creation of a will should not be left to only older Americans. The majority of Americans do not have a will, according to a survey reported by The New York Times recently in “Why You Should Get Around to Drawing Up a Will.” The new survey, which reveals that only 42% of Americans have […]
Arkansas case highlights potential fraud attempts, when large amounts of money are involved in estate. Large amounts of money involved in an estate can create incentives for people to attempt to present fraudulent wills, according to Arkansas Business in “Fake Will Scheme Puts Camden Real Estate Agent in Hot Water.” Matthew Seth Jacobs, who was […]
Legal battles slow down settlement of wealthy Atlanta businesswoman’s estate. Manslaughter charges, challenges and debts have slowed down the settlement of an estate in Georgia, according to Private Wealth in “Estate in Limbo after Atlanta Man Is Charged with Killing His Rich Wife.” The situation developed when Diane McIver, a well-known and wealthy businesswoman from […]
The little mistakes are what frequently cost families the most money. While people and the media often focus on big picture mistakes, it turns out that small errors are the biggest problems in estate plans, according to the Pauls Valley Daily Democrat in “Oversights can cost your heirs money.” For most people, minor mistakes such […]
Boxer Muhammad Ali’s family may be the next ones in the estate fight ring. Muhammad Ali, who passed away last year after a long struggle with Parkinson’s disease, has been frequently dubbed “the greatest fighter of all time.” While Ali can no longer fight, his family still can and it appears they are going to, […]
Some mistakes in estate planning for celebrities draw little notice but can still be a major problem. Celebrity deaths and estates can sometimes be the subject of headline after headline such as the estates of Robin Williams, Whitney Houston, and Michael Jackson. The estates are well-known because of the mistakes in the plan and the […]
An ongoing crisis with wills and estate plans plagues China. A particularly difficult estate planning issue in China was reported recently by USA Today in “Chinese don’t have wills — and now it’s a big problem.” Not too long ago, the Communist Party in China had strict rules about the accumulation of wealth and passing […]
There can be confusion on the definition and need for an estate plan. We will all have estates someday, so it may be helpful to know what a plan actually does. While estate planning can be complicated to the layman, there are some basics that make it less confusing, according to the Vail Daily in […]
A will isn’t just about avoiding the federal estate tax. Even if the Republican-controlled Presidency and Congress eliminate the federal tax, the need for an estate plan is not eliminated, according to Forbes in “Five Reasons You Need a Will (Even If the Estate Tax Is Repealed)!“. The reasons include: In a will you appoint […]
Misconceptions about wills and trusts often creates confusion. TCPalm recently discussed common misconceptions surrounding wills and trust in “Common misconceptions about wills and trusts.” Among the misconceptions are: Having a will means that your estate does not have to go through probate. This is completely false. In most cases, wills have to be submitted to […]
