Category Archives: Estate Planning
Lessons Are There For The Learning In Actor’s Death
The tragic death of talented actor Philip Seymour Hoffman from an apparent drug overdose offers some important lessons for people least likely to learn them. Philip Seymour Hoffman (Photo credit: Wikipedia) “One key lesson is the need to make an estate plan when one is going through a personal crisis or a downward spiral,”… Read More »
Joint Property Ownership Has Its Perils
(Photo credit: 401(K) 2013)Joint ownership of property between people who aren’t closely related to one another, such as spouses, is rarely a wise idea, according to a recent article on Forbes.com. Among the reasons cited in the story by attorney and contributor Stephen J. Dunn are: “Joint tenancy of a bank or financial account… Read More »
Changing will provisions at the end can be problematic
John Grisham’s latest bestselling novel revolves around a wealthy man crafting a handwritten will that completely cuts out his family and leaves the fortune to his housekeeper. (Photo credit: Ken_Mayer) The reason the man did this just prior to taking his own life, other than that his two adult children are fairly odious people,… Read More »
Selling off a late parent’s possession can be stressful
As if losing a parent wasn’t trying and troublesome enough, many adult children face the grim task of subsequently have to dispose of some of their late mother’s or father’s prized possessions. Often the sad reality is that what these older people held dear doesn’t have much value to others. “A few months after… Read More »
Unusual will faced on legal hurdles
We give great respect to the words and actions of the dying. People have been convicted of murder based almost entirely on the words spoken by their victims as the end drew near. And recently in Canada they celebrated the 65th anniversary of what’s been called the “most unique will ever written,” one that… Read More »
Planning for the unplanned requires expert advice
Most people don’t want to contemplate their death, but that doesn’t prevent them from planning for it in terms of their estate. And while most people likewise don’t want to give a thought to a relationship failing to work out, it happens. Wise individuals also make plans with this sad possibility in mind. “People… Read More »
Selecting an executor requires careful thought
The executor of an estate has a wide array of duties and a responsibility, so making the right choice in selecting one is of paramount importance. Trustworthiness is crucial, but so is competence. “Choosing an executor for your will may not feel quite as personal as picking a guardian for your kids, but you… Read More »
Official residency has estate-planning implications
Many people live in different states at the same time; euphoria and confusion come to mind. In a physical sense, however, we are all in only one place at one time, although some people enjoy having homes in different locales. While folks who live half the year in, say, South Carolina and the other… Read More »
Changes in the Law Change Where it’s Best to, Um, Die
Death may be a certainty, but the taxes attached to departing this veil of tears are anything but. “When it comes to state death taxes, nothing’s certain,” according to a recent article on Forbes.com. Entitled “Where Not To Die In 2013 Update,” the piece described changes in the law in various states that have… Read More »
Decision ‘Will Radically Change Estate Planning’
The U.S. Supreme Court decision relating to same-sex marriages will have far-reaching effects. (Photo credit: Wikipedia) Among other things, according to a recent item in Forbes magazine, the ruling “will radically change estate planning for affluent same-sex married couples.” “That’s true not just for the specific issue that was before the Court, but for… Read More »