By the basic meaning of its title, it would seem that an irrevocable trust cannot be revoked. However, in Louisiana, a battle is waging over whether or not that is always true.
Read More »Rare Books in an Estate: What to Do?
One of the most difficult tasks facing someone taking care of a loved one’s estate is figuring out which items are valuable. We all know that inherited fine art can be very valuable and should be evaluated by a professional and there are endless blogs, magazines, and TV shows that discuss what to do with […]
Read More »Money Tips for Families
Between life insurance, wills and other financial tools, many parents of more meager means can also take steps to make sure their kids will be okay financially after they’re gone. And as much as families despise talking about money, the measures don’t always require a lot of work.
Read More »Blowing An Inheritance
People often fear that leaving large sums of money to their relatives will result in those relatives blowing the money on things they do not need. A recent case in the United Kingdom demonstrates that this is not an unfounded fear. Euan MacAndrew, a 24-year-old, was left an inheritance by his grandfather that amounted […]
Read More »Reopening Jack Kerouac’s Estate
Author Jack Kerouac’s estate has long been settled after much acrimony. However, an important letter that he received from a friend could reopen the case. Jack Kerouac is credited with inventing the free-flowing beat style of writing that was popular in the 1950s and 60s. He did not create the style on his own […]
Read More »Estate Planning and 2014: Looking Back
Every year has new developments in estate planning. 2014 was no different in this regard. Some of the changes to estate planning in 2014 are very important to know about. With 2014 just behind us, now is a good time to look back and see what changed in estate planning during the year. After […]
Read More »Make Estate Planning Your New Year’s Resolution
The holidays are upon us. It’s also a good time to get started with some Old Year end and New Year beginning planning activities, especially if family members are going to be celebrating the holidays with you. Start with reviewing what you have and how you own it (by yourself, with your spouse, with a […]
Read More »Silly Questions? Not When It Comes to Your Will
It’s something parents shudder to think about: a will. That’s probably why more than half of Americans with children do not have a legal will. Parents love their children, and the concept of dying and not being there for their children is simply not an option they consider. Establishing a will is a vital part […]
Read More »A Trust Is Still a Good Idea
Up until a few years ago, a common estate-planning technique included the use of irrevocable trusts to own life insurance intended for the payment of estate taxes. Properly arranged, this method allowed the policy’s benefits to be used to pay the estate taxes of the person who died without the policy being included in the […]
Read More »Need I Be Spoiled to Have a Trust?
Mention a trust, and the first thing most people think of is a spoiled kid living off an inherited fortune without having worked a single day in life. As a result, most people don’t know very much about trusts, and they assume there’s little need to have even a basic understanding of this useful estate-planning […]
Read More »