It may seem that revoking a will should be a pretty straightforward process, but it is not. In more cases than you can imagine, people who think they have done all the right things end up leaving their assets to unintended heirs. Writing a will or making changes to a will are one thing – […]
Unless you have the proper legal documents in place, once your child turns 18, you no longer have access to their health information or academic information. Most importantly, you do not have the legal right to make medical decisions on their behalf. Preparing these documents before your child leaves for college is more important than […]
Having a trust sounds like something that only wealthy people need, but trusts are useful estate planning tools for regular folks too. Trusts foster better control over how assets are distributed among heirs. When properly designed, trusts can also ensure that your estate does not pass through probate, which is expensive, time consuming and public. […]
The simple and unpleasant truth of estate planning is this: few people enjoy spending time contemplating their own mortality. Estate planning requires recognition that at some point in the future you will no longer be alive, which leads to anxiety. This is the biggest reason, advisors say, that people put off estate planning. Unfortunately, our […]
On September 25, a settlement conference in the battle between the widow of baseball legend Ernie Banks and his longtime caretaker will be held in an attempt to resolve the division of his estate. This will be the first time that Elizabeth Banks and the caretaker, Regina Rice, will be in the same room. Banks, […]
Laws that govern wills, trusts and estates are far too complex for wills to be do-it-yourself projects, but putting your wishes into an estate plan with a qualified estate planning attorney is one of the wisest financial planning moves you can make. Your heirs will also thank you for not creating a tangled mess for […]
To the digerati – the elite of the technology world – Bitcoins are as valuable as the dollar or any other state-sponsored currency. But the rules are still under development for estate planning purposes, and planning for an estate that includes Bitcoins must take this into account. Most people know what Bitcoins are, even if […]
The classic story of a vulnerable wealthy elderly person being influenced by a caretaker who seeks to enrich him or herself has been updated in a dispute between a disinherited brother and psychiatrist/girlfriend of a Texas woman who is alleged to have been manipulated out of millions. A successful and wealthy attorney with undisclosed medial […]
For many Americans, the majority of non-real estate assets are their retirement accounts and life insurance policies. However, a large number of people forget to update their designated beneficiaries, which can lead to key assets going to unintended beneficiaries. An unusual fact pattern cited here reminds us of the importance of keeping beneficiary designations up-to-date. […]
In most cases, as long as basic principles are followed, a person is entitled by law to leave whatever he or she wishes to his or her heirs. There are no requirements to leave assets to adult children, but a recent ruling in a London Court of Appeals may change this. When Thomas Jackson passed […]