If you've recently lost a family member or other loved one, you're probably feeling overwhelmed and confused about what to do next. While some things can be put off until later, other steps should be taken as soon as possible. Once you've begun the grieving process and taken care of any initial concerns, it is time to begin the estate administration or trust administration process. We will help guide you through the entire legal process so you an your family members can focus on healing.
A joint pour-over trust holds you and your spouse’s joint property. You can create the joint trust together and name yourselves as the current trustees. When the first of you passes away, half of the joint trust’s accounts and property are distributed (pour over) to the deceased spouse’s separate trust, and the other half to the survivor’s separate trust.
Deferring, minimizing, or avoiding estate taxes altogether is often an important goal for married couples. However, uncertainty surrounding future estate tax laws can leave a couple feeling that they need a crystal ball to make the right decisions. Using either a marital disclaimer or the so-called 'Clayton election' as part of your estate plan can allow at least some hindsight and, consequently, peace of mind.
When Heath Ledger died tragically, at just 28 years old, leaving an estimated $20 Million fortune behind, and a will he had not updated, his family made a huge decision that would impact his daughter's life forever.
If you’ve recently been in a car accident, it’s extremely important get the medical care you need as soon as possible. It is also crucial to monitor your symptoms, and possible injuries, for the sake of your health and the ability to receive financial compensation. Some symptoms to look out for after a car accident that may not appear immediately are swelling, neck pain, back pain, nausea, dizziness, headaches, confusion, mental fogginess, sensitivity to light and/or sound, and numbness and tingling in your arms and/or legs. All these symptoms could be signs that you sustained severe injuries in the accident.
Howard Hughes sadly died on April 6th, 1976 at 70 years of age. However after many lawsuits, and multiple faked and forged wills, a judge eventually declared the billionaire had died intestate. It took 34 years to finally settle the estate.
Parents strive to be fair with their children. When setting up an estate plan, parents typically divide their accounts property equally among their children. However, children have different needs at different times and these needs do not always correlate with perfectly equal dollar amounts. Instead of simply dividing your accounts and property equally among your children, you can place accounts and property in what is known as a pot trust or common trust with instructions for your trustee on how to spend the money and property on behalf of all the beneficiaries.
Bette Davis was one of Hollywood's "golden age" heroes. Her uncompromising intense style and determination to be known as more than just another "pretty" actress is more than an inspiration to many. Her success, however, came at the cost of her personal relationships with her partners and children.
A pour-over will is a special kind of will commonly used alongside a living trust. If you do not set up a pour-over will to go along with a living trust, any money or property that does not pass to the trust or other beneficiaries at your death and therefore remains outside the trust at the time of your death could be treated as though you had died without a will and will pass to your heirs under the default laws of your state.
When Marvin Gaye died he left behind an incredible catalog of the music he had created, but also a mountain of debt he owed and back taxes as well. To further complicate matters, the Motown star and soul icon died without a will leaving his family without clear instruction on how his estate should be administrated, and a puzzle as to how to pay his debts.
