Wills and Trusts: Congress’ Failure to Act Forces Estate Plan Reviews
This past February, I did a blog discussing the fact that Congress has eight years to fix a problem, but suggested that it would be fixed sometime during 2010. Well, it is now late August, and Congress has still not been able to deal with this problem leaving many taxpayers and families unsure of how
Anna Nicole Smith’s Oral Trust Claim Helps Her Estate’s Litigators Not Her Heirs
The entire Anna Nicole Smith story regarding her claim to her elderly late husband’s estate began in 2007 with her claim her late husband made a oral will or trust granting her much of his wealth. This saga continues with attorneys for her estate vowing to, again, go to the Supreme Court. As was widely
On Deathbed Actor Dennis Hopper is Encouraged to Divorce His Wife of 14 Years in an Estate Planning Dispute
This is a will and trust story gone horribly wrong. Sadly, the circumstance are not that uncommon. Children from a previous marriage and a current wife battling over an estate. The”Easy Rider” star, filed for divorce shortly after revealing he was battling cancer. Victoria Hopper, his current wife, is alleging that children from a previous
Estate Tax Eliminated? For Now.
For eight years our Congress has been aware of the need to fix our estate tax problems and for eight years nothing was done. You see, President George W. Bush wanted to eliminate estate tax for good. The best he could do was law that did eliminate estate tax by 2010, because he did not
No Will? What Really Happens?
If there is no will Michigan’s intestate succession law (MCLA 700.2101 et seq) determines who the estate is distributed to. I should add, this is not how most people chose to have their estate distributed when given a choice. Essentially, intestate succession is like a default will for anyone who did not prepare one for
A Will Does Not Avoid Probate – A Will IS Probate
Many people considering their estate plan would like to avoid probate. I have found that many who have a will in place believe they have avoided probate. Avoiding probate eliminates unnecessary attorney fees (starting at $2,500.00 and sometimes much more), keeps your affairs private, keeps the court system out of your private matters, and it
Ryan O’Neal Left out of Farrah Fawcett’s Will
Our national news media loves headlines like “Ryan O’Neal Left out of Farrah Fawcett’s Will”, leaving the reader with the impression there was something wrong with their relationship. “How could she?” The simple answer is that she (and they) had a good estate planning attorney. Ryan O’Neal has told the press he was with her
Even “The Dogs” Will Fight Over an Uncertain Will
Leona Helmsley’s shows what happens when basic decisions are left to the Trustees or Personal Representatives. The Humane Society of the United States, The American Society for the Prevention of Cruelty to Animals and Maddies Fund have has filed suit in New York’s Surrogate Court to overthrow a decision from February 2009 which gave the
Michael Jackson’s Will a Mystery to Our Media
Our major media has been placing so much focus on the “will” of Michael Jackson. This reminds me how many people, including our media, do not really understand the role of a will in a complete estate plan. I have read his will and it has a minor role. Fox News made headlines indicating that