The fight over Conrad Prebys’ $1 billion estate continues, three years after the San Diego developer and philanthropist died. When the directors of the Conrad Prebys Foundation decided to give his son Eric $15 million, despite the fact that his father had left him out of the will, Preby’s longtime…
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…
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…
Estate planning requires making some of the most important decisions a parent can make for their child’s well-being. Single parents need to plan in advance for what will happen to their children, whether they are minors or adults. That includes preparing for the parent’s incapacity, as much as it does…
Gun owners, you may own guns to protect your family or because you admire the workmanship or history of firearms. However, without a gun trust, your heirs may face a surprising consequence. Mistakes with inherited IRA accounts can become expensive, but the penalty is financial. Inherit a gun collection without…
Among the top three reasons for an estate plan are to make sure that your assets are distributed according to your wishes, helping your loved ones from having to pay more taxes than necessary and if possible, avoiding having your estate go through probate. When there are minor children or…
The co-founder of Microsoft serves as an excellent example of advance planning, maintaining privacy and creating a legacy. Through a trust established years ago and several companies, Paul Allen began building his legacy of philanthropy long before his death. His last will and testament was a simple six-page document, according…
Trusts serve a variety of functions in estate planning, and they aren’t just for wealthy people. Trusts can be simple, or they can be complex, depending on what type of trust is being considered and how they are structured. Trusts should be set up by an estate planning attorney, who…
We’re not talking about what happens to your soul, or if you are headed to a peaceful place, or even what happens to your physical remains. Have you thought about what happens to the world you leave, your family and friends and your possessions, after you die? Let’s say you…
Selecting the individuals who will make important decisions on your behalf, when you are incapacitated or have passed away, is not to be done lightly. Is there a bomb ticking quietly in your estate plan? The chances are good that there is, says Forbes in “Defusing The Time Bombs In…