Prince was an extraordinary songwriter, musician, and onstage performer, and his death in 2016 created a void in the entertainment landscape. He was a very wealthy man, and his royalty rights generate ongoing income, so his estate was very valuable. It would be logical to assume that someone in … [Read more...] about Prince Estate Case Underscores the Risks of Intestacy
Have You Checked All These Estate Planning Boxes?
When you fill out important contracts, you make sure to “dot the i’s and cross the t’s.” It is important to attend to all the details, because mistakes can yield costly consequences. The same mentality should be applied when you are devising your estate plan. Yes, you have to create a will or a … [Read more...] about Have You Checked All These Estate Planning Boxes?
Is Probate a Good Thing?
If you use a simple will to record your final wishes, you name an executor to act as the administrator. This person would not be able to follow the instructions and distribute inheritances to the beneficiaries independently. The executor would be required to admit the will to probate, and a court … [Read more...] about Is Probate a Good Thing?
Can You Change Your Mind and Terminate a Trust?
Some people brush aside the possibility of the utilization of a trust because they harbor a misconception. They are under the impression that you permanently surrender control of assets that you convey into any type of trust. This stems from a bit of truth, but it is not an absolute, and we will … [Read more...] about Can You Change Your Mind and Terminate a Trust?
Estate Planning: Use the Right Tool for the Job
The most common estate planning mistake is the idea that a simple will is the only document you need. In fact, a properly constructed estate plan should address some issues that may arise toward the end of your life. Plus, a will is not always the best asset transfer vehicle. You should see a … [Read more...] about Estate Planning: Use the Right Tool for the Job
Are There Different Types of Wills and Trusts?
We often have to clear up misconceptions that people harbor about estate planning. One common notion is the idea that there is just one type of will, and one type of trust. This is not the case, and we will provide an explanation of some of the different wills and trusts that can be used in this … [Read more...] about Are There Different Types of Wills and Trusts?
