In spite of his successful career and his fame, it was surprising to learn that Chadwick Boseman did not have a Last Will and Testament in place when he lost his battle with cancer in 2020. Court documents were filed, so that the late actor’s wife, Simone Ledmond, could be named administrator of his estate. But how was it possible that court documents listed the estate at $938,500, when Boseman's net worth was estimated at around $12 Million?
Working with an attorney to draft a trust agreement for estate planning purposes is an important step. But just getting the document drafted and signed is not enough. For any trust to be effective, you must complete the process of funding your trust as soon as you can. This means changing titling and beneficiary designations on many important accounts and assets such as checking and savings account, real estate, and life insurance.
Eddie Van Halen died in October 2020, after losing his battle with cancer. The iconic guitarist's passing was met with extreme sadness. He was just 65 years old. He left behind one son, an ex-wife - with whom he maintained a close friendship - and a wife. He had a net worth of $100 Million, and one of the most asked questions about Eddie’s death is who inherited his money and estate.
For many people, the thought of meeting with an estate planning attorney is less than desirable. It can be uncomfortable to even consider the possibility of no longer being able to manage your own affairs, let alone no longer being alive. We are here to reassure you that estate planning is not as scary as so many people think it is. Many people fear estate planning because they fear the unknown. Not knowing what you are going to encounter at an attorney’s office frequently leads people to imagine all kinds of horrible scenarios and ultimately refuse to pull the trigger and set up an appointment. By explaining some of the common questions you might encounter when you meet with an estate planning attorney, we hope to help you prepare for your first estate planning meeting and alleviate some of the fear and anxiety that accompanies it.
As a single individual, you may feel overwhelmed when you think about who will step in and make decisions for you if you cannot make decisions for yourself and who will receive your money and property when you die. You may consider your parents or siblings, but depending on whether they are living and the nature of your relationship, they may not be an option. Having an estate plan is important to ensure that your wishes are carried out during your life and after your death. If such worries are preventing you from completing your estate plan, we are here to help you.
Prince Philip's will is to be sealed for 90 years. This has been part of royal protocol since 1910. However, the question remains of what will happen with The Duke of Edinburgh's multi-million pound estate.
There is no law against a beneficiary also being a trustee of the same trust—but it may not always be wise, and certain guidelines must be followed.
We lost talk show legend, Larry King, in January 2021. He had been star of our television screens for decades and had certainly led an interesting life. When he passed he left behind six ex-wives, with the seventh ex-wife pending, five children and a supposedly "secret" handwritten will.
Even if you don't listen to pop music, its been hard to ignore the recent news about Britney Spears and the #FreeBritney movement. In 2008, pop singer and superstar performer Britney Spears had a widely publicized emotional and mental breakdown leading to a series of bizarre and erratic behaviors. As a result, her family sought a conservatorship (often referred to as a guardianship in Ohio) through the court system to protect Britney and her minor children from her poor financial and healthcare decisions. Over time, however, Britney Spears' fans, and others concerned about her welfare, have followed her situation and have come to believe that the conservatorship has been kept in place for too long. Her case is a lesson in why a conservatorship may not be the best approach for many individuals.
If there was a villain to be played in a movie, chances are they were more than likely played by Christopher Lee. From terrifying audiences as "Count Dracula" in the old Hammer Horror movies, to “Saruman” in the Lord of the Rings and Hobbit trilogies, to Bond villain “Francisco Scaramanga” in The Man with the Golden Gun, he carved out a career that would last decades. Yet the illustrious actor's estate had a net worth of "nil" noted on documentation presented for probate. How could this be?
