Unfortunately, Whitney Houston used a Will based Estate Plan. Her “Last Will and Testament,” or Will, was admitted into Probate Court in Atlanta, Georgia. As guessed, Whitney’s 19 year old daughter is her sole beneficiary of the Will with payouts to her at ages 21, 25, and 30. Meanwhile, the Trustee would make payments on... [Read More]
Category: Estate Planning
Whitney Houston and Estate Planning – Part 3
As discussed before, right after we hear of the death of a celebrity, we ask, “How?”. Not long after, we ask, “How much money did they leave and to whom?”. Again, Whitney had traveled a troubled road of drug addiction and tough relationships. While alive, she had been separately sued at different times by her... [Read More]
Whitney Houston – Estate Planning Part 2
As we discussed last time, when a well known celebrity dies, after asking “How?”, we ask, “How much did they leave and to whom?” Rumors are that Whitney Houston left a multimillion dollar estate to her only child, an 18 year old daughter. This is an estate that should continue to grow with the sale... [Read More]
Whitney Houston’s Estate Plan Upon Her Unexpected Death
After the sudden death of 48 year old Whitney Houston, some of the first questions asked are: How did she die? What about her family? Some questions that come to mind right after that are: What estate did she leave behind and to whom did she leave it? Then, the informed reader asks: Will her... [Read More]
Register Now: Five Common Estate Planning Mistakes, 1 Hour CE Workshop
Please join us the morning of Leap Day, February 29, 2012, for an informative and fun one hour of Continuing Education. We’ll help you better help your clients and gather prospects as we go through the Five Common Estate Planning Mistakes. We’ll be in and out in an hour and get you on your way... [Read More]
Protect What You Own!
Business owners and real estate investors are just some of those at risk for losing their personal assets if they are sued by a customer or tenants. We talked some last time about owning your rental property or business in an entity. See my blog of January 26, 2012. I spoke with a lady this... [Read More]
Don’t Own Your Rental House in Your Name
The problem with owning your rental house or apartment or even your business property in your own name is that you could have great liability to someone if they get hurt on your property. If a tenant in your rental house falls in the bathtub or down the stairs, you could potentially receive a disastrous... [Read More]
What Changes Will You Make in 2012?
This year will be a most interesting year as we move toward a Presidential Election, plus many other federal, state, and local positions that are up for election. The “kick the can down the road” patch on the tax code expires at the end of 2012, many of the “Bush tax cuts” expire, and we... [Read More]
Forbes Says No. 2 “To Do” Is Get Estate Planning Done
Forbes magazine lists the second most important thing to do in 2012 is to get your Estate Plan properly done. The only item listed ahead of it was “set your goals.” This is from their “12 Financial Resolutions for 2012.” We are six times more likely to become mentally disabled in a given year than... [Read More]
Year End Legal Shopping
Many people are looking to do tax deductible legal work and transferring of assets before year end. One of the most common practices is doing year end gifting of up to $13,000.00 per person with no gift or estate tax consequences. Some are looking to donate to charities within the calendar year, either directly or... [Read More]