Americans love collections and homes across the country boast music collections, rock collections, sea shell collections and the list goes on. Often, these personal collections hold a great deal of sentimental value while their market value is nil. Typically, favored items are passed on to the family members who will…
Several nude photographs of the late artist Jean-Michel Basquiat were taken by his ex-girlfriend Paige Powell. The photographs, which were shown as part of an art exhibition in 2014, show Basquiat reclining on the bed, smiling at the camera. Subsequently, they were posted on several art websites. One of those…
Sam Simon, co-creator of The Simpsons, was a devoted owner of his rescue dog, Columbo. And Columbo has enjoyed sitting in the lap of luxury. One of Columbo's monthly bills was for acupuncture treatments, twice a week, at a monthly cost of $3,640. That was just one of his regular…
Upon British actor and director Lord Richard Attenborough's death, the value of his estate and his last wishes were made public via his will. His estate in the United Kingdom was worth approximately £1.5 million, not including the value of any assets held in trust or any foreign assets. However,…
Anytime a blended family includes children from prior marriages, estate planning becomes more challenging, as reported in The Meridian Star, in “Estate planning after a second marriage.” If there are young children, how can you ensure that the surviving spouse will take care of them? And what if you pass…
An elderly many claimed that his trust was mismanaged and he brought action for financial elder abuse and other claims against his banking institution. A California court ruled that because the gentleman had established residency in California and Australia, he was not protected under the state’s welfare code. A judgment…
Do you have a plan for long term care? It can be costly and prohibitive for many families, especially for dementia care. Several key points about long term care are clarified in a recent article from The Arizona Daily Star, “Costs pile up fast for dementia care.” Don’t count on…
The Huffington Post published an interesting article on the ethical and legal issues posed by two related legal practice areas, “Some Legal Issues at the Intersection of Elder Law and Estate Planning.” There are legal and ethical issues that arise when determining courses of action in both areas. One is…
Utilizing intrafamily loans and trusts is one way that wealthy families can maximize their estate planning strategies. A recent issue of Barron’s features, “How Family Loans and Trusts Can Create Big Wins,” and outlines the specifics on intrafamily loans as an estate planning tool. The note has a fixed value,…
When Fritz Detmer passed away, he left his son, Tols Detmer, an estate worth several hundred thousand dollars. The terms of the will were that Tols was not to get his inheritance until he turned 18. Now, Tols is 19 and he is suing his own mother, Charlinette Detmer, for…