Estate administration in the digital age requires having a strategy to share passwords to your computer, email and online accounts. Without that, things quickly get complicated.
A legal battle between Tom Petty's widow and his two daughters is reportedly holding back the release of the expanded version of the late-Rock and Roll Hall of Famer's Wildflowers solo album.
Like many couples, Susan and Larry, who were married for 46 years, had divided the financial chores. Larry handled the investments, and Susan paid some bills. Though Ms. Alpert owned a business arranging travel incentives for large corporations, she was not prepared to manage the household’s financial affairs.
Most of us would like to be remembered for who we were, not what we had. If you have any assets that you’ve accumulated during your lifetime that you plan to leave behind, it’s on you to figure out who gets what.
Many investors have an idea how they would like their assets distributed upon their passing. However, they are not sure of the best way to do so. Trusts are entities that ensure money and assets are handled according to the grantor’s instructions, keep the estate and its dealings private, and can be structured to a specific need.