Celebrity estate planning remains one of the most common ways that local residents are confronted with issues regarding wills, trusts, and other inheritance issues. As the old adage makes clear, the only certainties in life are death and taxes. It does not matter whether one is a billionaire, international celebrity,…
If a family is dragged into a drawn-out court battle over an estate planning issue, chances are it is a “will contest.” This phrase refers colloquially to cases where one party claims that something is wrong with a will and that the legal document should be thrown out. It goes…
Earlier this year we shared information on a controversial New York inheritance case that was soon to be decided. The issue revolved around a mother’s attempt to inherit part of her children’s estate, valued at around $350,000. Her three children died in 2008 after the mother herself drowned them. Of…
In October of 2014, the Affordable Care Act, also known as Obamacare, will finally come into effect. As a result, many across America (including seniors) will have access to more affordable healthcare options. However, with these benefits come a variety of considerations and issues that the elderly must be aware…
As we have mentioned many times before, in June of 2013, the Supreme Court’s decision regarding the Defense of Marriage Act (“DOMA”) allowed same sex married couples to receive the same federal benefits as their heterosexual counterparts. This landmark decision will have a significant impact on estate planning for same…
Estate planning can seem like a simple process–but usually only when it works as intended. A well-designed plan can make the passing on of assets and handling of various end-of-life matters occur seamlessly. Alternatively, when there is no planning or only partial steps are taken, then the true complexity of…
Understanding the specifics of the law is just one aspect of successful estate planning. Obviously it is critical that a will is created in a such a way that it will be upheld or that a trust will have legal effect (or that you take advantage of all available trust…
One of the biggest misconceptions about general estate planning is that a “trust” is something that only rich families need to consider. This perception likely arises from colloquial use of “trust funds” to signify wealthy individuals who are living off substantial earnings preserved for them in a trust. A better…
One of the baseline legal questions to consider when planning for inheritances is determining what can be passed on in the first place. This may seem like an unnecessary question. After all, can’t you pass on all of your assets to another? Not quite. At least, you cannot pass on…
Most estate planning advice stories include one theme over and over–plan early and update consistently. Because no one know what the future holds and life changes occur frequently, it is critical to ensure your legal planning will work as you want it to when you need it. However, that does…