Avoiding bushwhacks includes avoiding probate court. I know I am repeating myself here, but this is a common area of misconception. The downsides of probate court are numerous. The attorney fees, which they often refer to as ‘administrative expenses’, can be 5-7% of the value of your probate estate. For example, if you have One... [Read More]
Category: Separation/Divorce
Remarriage – Partner: Getting Real in Estate Planning
In our last blog (Getting Real in Estate Planning: Tough Talks), we wrote about the difficult or sensitive conversations estate planning lawyers have with their clients. It’s what we must do to ensure your estate planning goals are achieved which is why listening and knowing what to ask are so important. The first topic we... [Read More]
Getting Real in Estate Planning: Tough Talks
A lot of what we do, is hear great stories. We meet fabulous individuals, and hear a lot about their kids and their interesting stories about their lives and how they became successful and can now leave something to their loved ones. This is a positive in estate planning. The other side of Estate Planning... [Read More]
Anticipate Conflict – Get Ready to Rumble!
Part 5 of our Series Anticipating Conflict Sources of Family Conflict in Estate Planning 1 out of 3 I know an attorney who retired and moved to Western North Carolina from Florida. He became a client and then a friend. He had formerly been an Estate Planning Attorney in Florida. I asked him how often... [Read More]
Family Conflict in Estate Planning: A 5 Part Series
When it comes to the administration of an estate, controversy often happens. Often these controversies are the result of family conflicts. Understanding these conflicts BEFORE they happen can help you create the proper estate plan to avoid unnecessary delays, legal battles and of course, bitterness. Sibling Rivalry Part 1 The sources of conflict within a... [Read More]
Lessons in Estate Planning from the Brangelina Divorce
It’s not just about the divorce. The public is surprised and fascinated by the recent separation and pending divorce of movie stars, Brad Pitt and Angelina Jolie. We watch with fascination the same as we are drawn to watching a car wreck. In some way we are disappointed that two beautiful and competent people are unable to survive... [Read More]
Lamar Odum has no Advanced Directives and an Almost Ex-Wife making the Decisions
Former NBA player Lamar Odum remains hospitalized and has come off of life support after a drug overdose. He was in a coma for 3 days. He remains on dialysis. He has no Advanced Directives – Healthcare Power of Attorney, Living Wills or Healthcare Designation. Further, he is still married to a Reality TV personality... [Read More]
More Storms of Life
We in North and South Carolina just went through heavy Storms, including heavy rains, over the past several days. Here in Western North Carolina we have been having rain off and on for more than ten (10) days. That was followed by very heavy rain over this past weekend. This rain has led to rivers... [Read More]
The Privacy of Robin Williams’ Estate Plan
Prior to his recent death, Robin Williams had publically lamented his economic losses during his lifetime. Although he had earned millions he had lost more than $30,000,000.00 to his two divorced wives. His third and current wife was living in a separate bedroom at the time that he committed suicide. Possibly the third divorce was... [Read More]
Psychological Cost of Inheritance
When creating your Estate Plan do consider whether an inheritance to your children is disincentivizing them from growing-up into a responsible adult. A lump-sum inheritance might leave them feeling “fat and happy” and therefore they’ll stop being a productive member of society. Another issue to consider is whether they might be one of the estimated... [Read More]