While trying to advise a woman who is the only child and heir of her unmarried father who will not meet with an Estate Attorney, a number of issues have come up. He keeps telling her “I put a note with the item which says you get it. That means it automatically goes to you”.... [Read More]
Category: Living Trust
Estate Planning for Blended Families
“Yours, Mine and Ours” was the title of a cute movie regarding parents who marry with children from a previous marriage. However, in real life, it can be a complicated issue when it comes to Estate Planning. Studies show that in 2013, 40% of the marriages included at least one spouse who had already been... [Read More]
Super Charge Your Inheritance, part 2
Life Insurance can be a way to “Super Charge” your inheritance. For example, you may spend some thousands of dollars in life insurance premiums, but that may provide hundreds of thousands or even millions of dollars in death benefits when you pass on. If you have a good income stream, or you have a good... [Read More]
Super Charging an Inheritance
One can protect an inheritance they leave to a loved one by leaving that share of the inheritance in a Protective Trust. That gives the adult who inherits the money more protection to keep them from losing that inheritance by squandering it, losing it in a divorce, or losing it in a car wreck lawsuit.... [Read More]
What We Really Fear in Our Estate Plan
Many clients come into the office concerned more about the delay, costs and publicity of Probate Court, or potential tax issues. But as they start to open up about their real concerns about leaving inheritance, the concerns are about what if they become mentally disabled? What if their spouse remarries – will their assets go... [Read More]
Remarriage & Estate Planning
Sixty-six year old musician Billy Joel married his 34-year-old girlfriend on July 4th. When someone who has been married before, has children from a previous marriage, and their own assets, they will have to account for the remarriage in their Estate Plan. They may do a new Living Trust aka Revocable Living Trust. They also... [Read More]
Independence Day – Where We Come From
Independence Day celebrated on the 4th of July commemorates the adoption of the Declaration of Independence on July 4, 1776, declaring independence from England. One has to remember that this country was founded when ordinary men like you and I took their hunting rifles and fought the powerful professional soldiers of the British Army. America... [Read More]
Paul Walker Estate Sues to Collect Automobiles
Paul Walker, the handsome actor and star of the “Fast and Furious” movie series, died in a fiery car crash on November 30, 2013. His demise was national news as soon as it happened. His Estate aka Probate is now suing to recover 17 very expensive cars which were held by the man driving the... [Read More]
Tom Benson Declared Competent
A Court in Louisiana declared 87-year-old billionaire Tom Benson (owner of NFL Saints and NBA Pelicans Professional Sports Teams), mentally competent. As discussed in my blog of June 8, 2015, titled “Saints Owner Tom Benson Completes the First Week of Competency Trial” that issue was being litigated. The Court ruling allows Mr. Benson to continue... [Read More]
Gather Ye Rosebuds
There is a poem that starts “Gather ye rosebuds while ye may, Old Time is still a-flying;” The poem refers to how quickly life is moving and how quickly time is passing. My Dad would say “The older we get, the faster time moves”. I did not really understand that until I got into my... [Read More]