Illinois Wrestles with Digital Assets

Mac-glassesRecently, legislatures in many states have debated about what to do with a person’s digital assets after the owner passes away. It is not an easy debate to settle as powerful arguments are made on both sides. Illinois is the latest state to wade into these deep waters. (more…)

Finding Life Insurance Policies

MP900422340 (1)Often people will let loved ones know that they have life insurance policies, but after the policy holder passes away the beneficiaries have difficulty finding any information about the policies. Tracking down these lost insurance policies is an important step in estate administration. (more…)

Choosing a Trust Company

MP900424431It is often a good idea to choose a professional trust management company to be the trustee of your trust. However, you need to be careful and pick the right company to make sure that you are getting a good deal on costs and fees. (more…)

A Different Sort of Inheritance Scam

Stockbrokerarbitrationfraud4Scammers have long sought to use inheritances in their nefarious plots. A woman in Brooklyn is accused of using a new twist to scam her friends out of money by making up an inheritance.

An old fraud has a scammer pretending to be an attorney or estate agent. The fraudster will tell a potential victim that the victim has inherited a large fortune from an estranged or long lost relative. However, before the victim can get the inheritance, the fraudster claims that the victim must cough up large sums of money to pay off taxes or other debts that the estate holds.

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Giving It All Away

Giving-to-charity2A recent trend among the mega wealthy is to give all or most of their fortune away to charitable causes either during their lifetimes or in their estate plans. While the intentions are noble, there is a potential drawback that you should be aware of. (more…)

Even in Death Dean Smith Keeps Coaching

Ball-basketball-competition-23462The world of college basketball recently collectively mourned over the passing of legendary North Carolina coach Dean Smith. We are now learning that Smith found a way to continue coaching his team by using his will. (more…)

Planning for Your Special Needs Child

MP900411773If you have a child with special needs, then you know that they often need a lot of money in order to get the basic services they require. This means that you have some extra challenges to overcome in estate planning. (more…)

A Reputation Changing Will

Wills-trusts-and-estates-coveredThe name Alfred Nobel is now associated with philanthropy and the Nobel prizes, but that was not always the case. It was his will that changed how Nobel was perceived and now for the first time that will has been put on public display. (more…)

How to Designate Beneficiaries

MP900446463Retirement accounts, life insurance and similar items have become an important part of many people’s estate plans. In some cases, they are the only estate plan that people have. If you are relying on them, it is important to know a few things about designating beneficiaries. (more…)

The Estate Tax and Your Non-U.S. Citizen Spouse

MP900439289If you are married to a non-U.S. citizen, you need to know that the estate tax options for your spouse will be different if you pass away than if you were married to a U.S. citizen. This knowledge will help you to protect your spouse from the most devastating effects of the estate tax. (more…)