Marilyn Monroe’s Estate Makes Money 50 Years after Her Death

February 3, 2021
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning

Marilyn Monroe’s estate makes millions every year. At the time of her death in 1962, the icon’s net worth was $10 million, when accounting for inflation. In 2020 alone, she made almost as much as that. But fans of the late star might be surprised to learn that it isn’t her many movies that make her estate the most money.

How to Plan for Spouse’s Medicaid

February 1, 2021
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning, Long-Term Care Planning

When a spouse enters a nursing home, the cost of care can be financially devastating. Many families are simply unable to afford long-term care without applying for Medicaid.

How Do You Keep Inheritance Money Separate?

Everything each spouse earns during their marriage is community property. Fortunately, a gift or inheritance is separate property. However, that’s only half the battle.

What Happens If Trust Not Funded

January 29, 2021
Bill O’Leary, Esq.
Asset Protection, Elder Law, Estate Planning

Revocable trusts are a very popular and effective estate-planning tool. However, the trust will be ineffective, if you do not actually place your assets in the trust.

Estate of Charles Schulz Still Making Money

Is there a person on the planet who doesn't love the Peanuts characters? Snoopy, Charlie Brown, Lucy, Pigpen, Schroeder, and the gang are the iconic creations of Charles Schulz. In fact, it is still so popular that they earned Schulz's estate $32.5 million over the last year, two decades since his death due to cancer.

What Should I Know about Reverse Mortgage Scams?

January 23, 2021
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning, Long-Term Care Planning

For some older homeowners, a reverse mortgage can be a way to supplement retirement income, consolidate debts or cover expenses, like health care. For scam artists, they can be a lucrative tool to fleece people in their 60s and up out of large sums of money, or even their homes.

Have Your Parents Planned Carefully for Retirement?

January 22, 2021
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning, Life Insurance, Long-Term Care Planning, Probate and Estate/Trust Administration

According to Pew Research, roughly 13 percent of self-employed workers in single-person firms reported participating in retirement plans at their current jobs, compared to almost three-quarters of traditional workers.

Did Robert Redford Have a Business Exit Plan?

January 15, 2021
Bill O’Leary, Esq.
Asset Protection, Business Planning, Elder Law, Estate Planning

Robert Redford officially bought what was once the Timp Haven Resort (now known as the Sundance Mountain Resort) in 1969. This year, he's stepped away, selling the resort to Broadreach Capital Partners and Cedar Capital Partners. While we don't know how much the resort was sold for, the structure of the sale shows how this iconic real estate investor has built a successful exit strategy.

Will I Get A Bill as My Inheritance?

January 7, 2021
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning, Probate and Estate/Trust Administration

Debts, just like assets, are considered part of a person’s estate. When that person passes away, their estate is responsible for paying any and all remaining debts. The money to pay those debts comes from the asset side of the estate.

How to Use Joint Accounts and Beneficiary Designations

January 1, 2021
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning, Power of Attorney

We need to make sure your legal toolbox has the right tools for the job and that you understand how each of them work, just like an owner’s manual.