A trust is a complex document, but taking the time to read it a few times will prove enlightening. If you have questions, call your estate planning attorney, so they can help clarify anything you don’t understand. Attorneys do try to simplify documents when they can, so that clients will…
Notice that the title is not “if” you need to update a will, but “when.” A will is like the family pet—it can protect the house and demonstrate your love for your family. However, you have to take care of it. People often comment when they complete their estate planning,…
It’s not how much you earn, but how much you keep that makes the difference in lifestyle and retirement. Keep more of your hard-earned money, by making fewer money mistakes. Some of the most common money mistakes cost thousands of dollars. All you need to do is pay attention to…
When Gloria Vanderbilt died at age 95, it was truly the end of an era. Her life included the high society world of old New York and the disco scene at Studio 54. However, her son Anderson Cooper reports that he won’t inherit any money from his mother. Gloria Vanderbilt’s…
Parents of special needs children need to be especially proactive about planning for the future. Their planning should start with an estate plan, that includes a Special Needs Trust. It’s one of the hardest things for any parent to think about, but for special needs families, planning for the child’s…
This bizarre story of an estate battle concerns a man who wanted to be driven to local pubs, a taxi driver and the passenger’s significant other. A legal bill for an unusual estate battle must be now paid by a cabbie who had inherited a regular fare’s entire estate. The…
There were a lot of headlines after Kenny Goss and Michael’s former lover Fadi Fawaz were cut out of the late singer’s will. Fawaz is now reported to be planning to contest the will. Most of the late George Michael’s £98 million estate will be shared by his sisters Yioda…
There are definitely advantages to all the perks of fame and fortune that come with being a celebrity. However, aging celebrities are just as vulnerable as regular people, when it comes to elder financial abuse. The major difference is that their stories are reported in the news. Recent news stories…
Almost every type of income comes with a tax consequence. Capital gains and dividends are both income but they are treated differently when it comes to taxes. Understanding the difference between capital gains and dividend income can have an impact on portfolios and tax planning. That includes the difference in…
Think of trusts like the Swiss army knives of estate planning. There are many different trusts that are used to accomplish many different tasks. At its essence, a trust is a legal document that permits a third party, called the trustee, to hold assets on behalf of a beneficiary. The…