Most people who amass wealth do not do it so that their heirs can squander it. However, that is what happens in most cases. One way to help prevent this from happening to your wealth is to leave your family with an intellectual inheritance.
Read More »What Did the Scaife Trustees Know?
The contentious battle over the trust of the late Richard Mellon Scaife has taken an interesting turn as new court filings make it appear that at least one of the three trustees may have suspected the trust was being mismanaged. Richard Mellon Scaife’s mother created a multi-million dollar trust for his benefit. When he passed […]
Read More »How Probate Can Get Expensive
There are many reasons to want to avoid probate for your estate. One of them is that probate can get very expensive. One doctor’s bill in a case in New Hampshire illustrates just how expensive. The story of Geraldine Webber’s estate has been followed closely on estate planning blogs.
Read More »Easy to Explain Estate Taxes? Not Exactly
Seems like the subject of estate taxes becomes part of every politician’s election promises, and today’s election environment is no different. Even though we are not really expecting significant changes in that area, estate taxes have changed dramatically, and some folks may still be uncertain about how those changes relate to them.
Read More »Former NBA Star Could have Future Ex-Wife Making Medical Decisions
Lamar Odom and Khloe Kardashian may appear to be split on reality TV, but on paper, their divorce is not final. That could leave the former NBA player’s estranged wife with the role of making medical decisions for him. Odom, who has an address in Henderson, and Kardashian both signed off on their divorce in […]
Read More »Special Needs Attorney Testifies Before Congress
Richard A. Courtney, President of the Special Needs Alliance (SNA) and principal in the Courtney Elder Law Associates section of Frascogna Courtney, PLLC, testified Friday, September 18 before the U.S. House Energy and Commerce Committee Subcommittee on Health in favor of the Special Needs Trust Fairness Act (H.R. 670).
Read More »Can a Lawyer Profit From an Unethical Will He Drafted?
A recent appellate court decision in Michigan means that it is possible for attorneys to be unethical and still profit from the wills they create. Every state has a basic ethical rule for attorneys: an attorney cannot draft a will for a non-relative that includes a substantial gift for the attorney. The theory behind this […]
Read More »Is Elizabeth the True Queen of England?
Queen Elizabeth II has asked a court to decide if DNA evidence can be used in disputes over hereditary titles. If the court says yes, then it could mean that her own lineage and right to the throne could be called into question.
Read More »Making Charitable Contributions Work
While you’re alive and have philanthropic goals, give appreciated assets held in a taxable account to charity. For charitable bequests, designate your IRA or tax-deferred employer retirement plan. Why? Suppose a hypothetical Al Cole wants to give $10,000 to charity this year.
Read More »What to Do to Reduce Estate Taxes
If you plan on leaving a sizable amount of money to your heirs, it’s understandable to be concerned about estate taxes. After all, the top Federal estate tax rate of 40% could take a nasty bite out of a multi-million dollar estate, and that’s not including any state taxes that may apply. With that in […]
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