The Latest on Kirk Douglas’ Estate

March 9, 2020
Bill O’Leary, Esq.
Advanced Directives, Asset Protection, Business Planning, Elder Law, Estate Planning, Long-Term Care Planning, Probate and Estate/Trust Administration

Old Hollywood didn’t pay stars well by modern standards, but Kirk had the wisdom to own his most iconic films and pour the profit into property. Soon philanthropy will force tough choices. The death of any giant produces shockwaves. Where Kirk Douglas is concerned, those ripples reveal how much the entertainment landscape changed in his lifetime and how much the numbers have grown.

What’s the Best Thing to Do with an Inherited Investment?

Receiving an inheritance can be a double-edged sword. On the one hand, it's overwhelming, thanks to the intense emotions associated with losing a loved one combined with the confusion about what to do with the newly acquired assets. On the other, an inheritance can re-invigorate your finances and create new opportunities for you and your family.

How Do I Plan for My Incapacity?

January 20, 2020
Bill O’Leary, Esq.
Elder Law, Estate Planning, Long-Term Care Planning

What would happen if you were mentally or physically unable to take care of yourself or your day-to-day affairs? You might not be able to make sound decisions about your health or finances. You could lose the ability to pay bills, write checks, make deposits, sell assets, or otherwise conduct your affairs. Unless you’re prepared, incapacity could devastate your family, exhaust your savings and undermine your financial, tax and estate planning strategies.

Should I Name a Minor as an IRA Beneficiary?

IRAs provide better opportunities for long-term growth than other assets you could leave to a minor.

How Can Life Insurance Help My Estate Plan?

As people decide what they should do to benefit their spouses and families, considering life insurance in retirement can help protect, build and transfer wealth in one of the simplest ways possible.

Can I Place My IRA in a Trust?

You cannot put your individual retirement account (IRA) in a trust, while you are living. You can, however, name a trust as the beneficiary of your IRA and dictate how the assets are to be handled after your death.

Which Stars Won’t Leave Their Estates to Their Children?

Many A-listers have an impressive fortune worth millions and sometimes even billions of dollars, but not all of them intend to pass on this wealth from one generation to another.

What Should I Know About Joint Tenancy?

Joint tenancy is an arrangement that allows beneficiaries to access your account, without having to go to court.

Luke Perry’s Estate Planning – How Well Did He Do?

Luke Perry’s passing on March 4, 2019 was a sad moment for many, since his iconic role on Beverly Hills 90210 is forever etched in pop culture. However, in the eight months since his passing, it has become clear that unlike most celebrity estates, Luke Perry was financially savvy.

Why is Ashton Kutcher So Stingy with his Kids’ Inheritance?

In a recent episode of the Dax Shepard podcast "Armchair Expert," Kutcher said he wasn't creating trust funds for his two children with his wife, Mila Kunis.