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Sumner Redstone, the 93 year old media mogul who has infamously alienated both family and friends over the past few years while determining the terms of administration for his estate, added another dramatic chapter last month when he made claims of elder abuse against two of his former girlfriends. The…
Properly planning and structuring of charitable contributions and gifts can be a huge part of the overall estate plan. There are good and bad ways to give. Ensure that your gift is properly funded and distributed per your wishes by planning ahead of time. This planning may include using charitable…
Prince & Tidal After the death of a musician, we commonly hear about battles between the estate of deceased artists and various music companies, regarding the royalties to a deceased artist’s work, who now owns it, and who is entitled to receive royalties now that the artist is no longer…
Giving to charity is an important aspect of many estates. Those wishing to give gifts in a tax efficient manner should consider the positives and negatives of certain types of gifts. Many people who are wishing to help reduce estate taxes should consider spreading gifts throughout their lifetime. Lifetime Gifting…
Blind Trusts Blind trusts are another type of trust that is established in order to set assets aside and preserve them for a specific period of time, however the person establishing the trust has no control over the funds and thus does not receive access to them. Additionally, the individual…
Charitable contributions and gifts make up a large aspect of many estates. As with everything, there is a right way to give and a wrong way to give. Planning can help ensure that your gift is properly funded and distributed according to your wishes. This planning may include using qualified…
Trusts are common estate planning tools in which a person can transfer ownership of assets to the trust. While this person is alive, they retain control over the assets in their life. Upon their death, the assets are distributed to the beneficiaries named in the trust. While the Person is…
A study released in late November in the JAMA Internal Medicine journal reported that dementia rates for individuals over the age of 65 years old is down almost 24% from rates found in 2000. There are a variety of reasons why this decline may have happened, including elders with higher…
Newly married couples are embarking on a whole new life together. This new life comes with a number of changes. It is important to consider your estate planning as you begin your life together. Creating an estate plan that works for both you and your new spouse can ensure that…
When choosing the people you trust the most to serve as a part of your estate plan in any capacity, whether they be a family member, close friend or trusted individual in the community, it is important to understand the role that you are asking them to play. Serving as…