The widow and girlfriend of the famous artist Thomas Kinkade have finally reached a settlement in the probate litigation case that had drawn the artist's $66 million fortune into question. Local media sources report that the details of the settlement have been made confidential, and neither woman will discuss the terms of the agreement. It is still unclear who will receive the man's massive home in San Francisco, Read More
ESTATE PLANS MAKE GREAT HOLIDAY GIFTS
Family members who are considering updating their estate administration plan should consider the holidays as a great time to ask for relatives' opinions and preferences. Getting together over the holidays can provide an excellent opportunity to revise documents to ensure that the small details are in order for the inevitable. Probate attorneys say they encounter a few common mistakes among a variety of estate plans, Read More
HOW TO HAND DOWN YOUR BUSINESS – TAX FREE
Wealth that is concentrated in a private business can pose significant difficulties for those who want to bequeath their assets to a future generation. The federal government is likely to take a big bite out of any estate valuation actions that occur before death, unless a business owner presents a shrewdly crafted estate plan. Here are some tips to keeping your family business - and your family funds - where they Read More
WHAT DOES THE FISCAL CLIFF MEAN FOR YOUR ESTATE PLAN?
Recent talk about the "fiscal cliff" that is fast approaching on Jan. 1 has prompted worry in some circles about estate administration implications included in the expiration of certain tax cuts and spending provisions. The effects of the fiscal cliff on estate planning have not been addressed thoroughly in the national media, though it warrants some attention, considering the scope of the legislation that could be Read More
WOMAN TRIES TO COLLECT ON CHARITABLE FUNERAL
Some would say that no good deed goes unnoticed. In a bizarre burial scheme in Connecticut, though, it would appear that at least one good deed should go unpaid, at least through probate litigation. A funeral home director is attempting to collect money from a deceased victim's estate after she provided a lavish service for the man, who reportedly had no friends or family to mourn his passing. The director decided Read More
PROVIDING FOR YOUR PETS AFTER YOU’RE GONE
Superstorm Sandy packed a wallop when it struck the East Coast earlier this fall, prompting many people to reevaluate their estate administration plans. In an eerie repeat of Katrina, a significant number of pets were left stranded when their owners evacuated, largely because people had not prepared for the tough decisions that come along with fleeing with their furry friends. Estate planners say that this Read More
BOOMERS’ ESTATE PLANS FOCUS ON MORALS, VALUES
The Baby Boomers want to distribute their estates according to their moral values. This increasing amount of social consciousness has led to a new type of estate administration that focuses on ethical practices and values rather than simply financial need, according to experts. Boomers want to make sure that their personal values are maintained as they pass down their assets. This has led to a significant increase in Read More
HOW SHOULD YOU SELECT YOUR ESTATE’S EXECUTOR?
Choosing an executor for your estate can be a challenging assignment; after all, who do you trust most to distribute your assets among relatives and other beneficiaries? Experts say people considering their executor options should be educated about the exact duties this person has during the estate administration process. Executors only step into their roles after your death. In the immediate aftermath of your Read More
REVIEW BENEFICIARY LIST AFTER MAJOR LIFE CHANGES
Building your assets to prepare for retirement is a demanding process, but experts encourage Americans to thoroughly review their beneficiary list before making any major decisions. Estate administration plans rely heavily on beneficiary designations when distributing property. An outdated plan can cause confusion and resentment among surviving family members and friends. Beneficiaries on insurance and financial Read More
FOOD MAGNATE’S ESTATE LOCKED IN CONFLICT
The estate of an Iron Range family's patriarch is under dispute, with the man's children fighting the men in charge of trust administration for his massive wealth. The man, who had been a food magnate in the town, reportedly had a penchant for conflict during his life that has not abated even after his death. Two of the man's children argue that their parents were coerced and manipulated by their financial advisers Read More
