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The Portland Museum of Art in Maine recently initiated legal action against the caretaker of an art collector. The Museum claimed that the caretaker bequeathed as much as $2 million to museum, but was convinced to not do so before her death. As a result, the art collector changed…
We love our pets, but many of us are still uncomfortable with confronting end of life issues. When accidents occur and people lack essential estate planning tools, it is very common for pets to being end up being sent to shelters or rescue centers. To avoid this unpleasant idea…
This is the last post on gifting digital assets. So far, we have examined digital assets generally and digital asset planning in the estate planning process and the business succession planning process. Today’s post will review how to handle digital assets in the estate administration process. Traditional estate administration process…
Many people understand that estate planning is important, but nobody wants to tackle issues that address end of life because often that means accepting that you too will die. If you get nervous or uncomfortable when it comes to estate planning issues, you aren’t the only one. Failure to…
Regardless of age, for parents who are interested in estate planning, the most pressing issue is almost always caring for children. The expectations that a parent has for their child often end up shaping the estate plans that get written. For single parents, these conversations are often more critical.…
When major life events like marriage and divorce occur, it is a wise idea to review your estate plan. That’s because these life events have the potential to significantly change a person’s estate plan. The purpose of this article is to review some key factors that you should consider…
In this post we will discuss why digital assets should be incorporated in the estate planning process just as you incorporate all of your physical assets. We will also explore what are some of the initial steps to take when formulating an estate plan with digital assets. Step One: Understand…
After creating an estate plan, it is easy to fall into the trap of thinking that you have now done everything necessary to plan for the future. In many cases, however, people fail to make sure that all beneficiary designations as well as assets are titled in a way to…
Estates lawyers are increasingly asked to help surviving family’s members locate cryptocurrencies because their loved one collected them during their lifetime, didn’t include it in their will or updated will, and now no one can find it. Planning for cryptocurrency is more complex than digital asset planning. For starters, cryptocurrency…
Three people in Ohio were recently convicted on multiple charges related to a scheme associated with creating and probating a fake will that left the entirety of a $2.2 million estate to a beneficiary and revoked an earlier will the deceased person had executed in 1993. In an additional twist,…