Considering Gandolfini’s Will
Last June, “Sopranos” actor James Gandolfini died of a heart attack at the age of 51. Shortly after his death, Gandolfini’s will became public. Since then, experts have considered the wisdom of the provisions in his will. As a recent article explains, experts believe that Galdolfini’s will was so poorly drafted that it may invite […]
Charitable Estate Planning
After one spouse dies, the surviving spouse often chooses to leave the entirety of his or her estate to his or her surviving children. Although this is the most common arrangement, it is certainly not the only option for post-death distribution of assets. In drafting an estate plan, a person can leave his or her […]
Simple Estate Planning for Young People
It is never too early to prepare an estate plan. Although planning for death is often the last thing on the minds of young people, the fact is that everybody has an estate, and no one can see the future. As a recent article notes, creating an estate plan is important for everyone, including young […]
Will Your Child Become Little Orphan Annie?
Be Prepared! Although I was never a Boy Scout, their motto rings true for all of us. I remember my early days of being a first-time mom and the effort and skill it took to pack the diaper bag. I never knew what to expect so I planned for every contingency… diapers, wipes, toys, extra […]
Financial Steps to Protect Your Family
No one wants to face the reality of an unexpected death. However, more often than not, death comes before we are ready. A recent article discusses several steps a person can take to ensure that his or her family is cared in the event of the unexpected. Purchase a Term Life Insurance Policy A life […]
Five Things to Look for in a Guardian for your Children
If a parent dies without a will and there is no surviving parent to care for the child, the court will determine who will care for the child. The court may not choose the person you would want to raise your child, so the best thing you can do is name one yourself. Before naming […]
Vidal Sassoon Disinherited Son
2012 marked the death of British hairdresser and shampoo mogul, Vidal Sassoon. According to a recent article, Sassoon had disinherited his adopted son shortly before his death. Moreover, his will also blocked his three ex-wives from receiving any part of his approximately $150 million estate. Sassoon did not approve of his adopted son’s lifestyle, and […]
Take Caution When Designating Beneficiaries
People can name the person they would like to be beneficiary on a variety of accounts and financial devices. This is advantageous because the assets that have a named beneficiary transfer outside of probate, saving heirs time and money. However, many people forget that a beneficiary designation on many documents will override their will. A […]
Trigger Events That Require Review of Your Estate Plan
Almost as important as creating an estate plan is updating it. While an estate plan should at least be reviewed on a yearly basis, there are certain trigger events that require immediate review of your estate planning documents. A recent article discusses some of these events. It is important to remember that trigger events should […]
What a Will Can and Cannot Do
A Last Will and Testament is a legal document which designates someone to take possession of everything you own when you die. There are different requirements for a valid will in different states but generally speaking the following are typically required: Designate a Personal RepresentativeA will usually designates a personal representative to carry out the […]