So, you’ve decided that a family member won’t be getting an inheritance, after all. Maybe you have an ungrateful or irresponsible family member you want to cut out of the will.
Estate planning is not just about saving taxes, it is also about managing and protecting your assets against future creditors, both for you and for your beneficiaries.
The fortunate cat has starred in magazine spreads, had makeup lines named in her honor and is the inspiration for the novelty novel Choupette: The Private Life of a High-Flying Fashion Cat.
James Brown died on Christmas Day 2006. However, almost 15 years later, litigation over his estate rages on. The Godfather of Soul had bequeathed the majority of his assets to underprivileged students in South Carolina and Georgia, but not a single scholarship has been given, pointed out Donald W. Beatty, Chief Justice of South Carolina’s Supreme Court.
If you have updated your estate plan during the Covid crisis and even found a way to sign your documents while maintaining social distance, do not overlook the last step of trust funding.
When the Spanish painter Pablo Picasso died of a heart attack on April 8, 1973, he left behind not only a huge artistic oeuvre of 50,000 works, but enough family drama to cover several generations.
By discussing finances with your children early and often, you can set them—and future generations—up for success, when it's time to receive the wealth you've accrued.
Kenny Rogers didn’t write a lot of his greatest hits. His heirs get a little cash, when any of his recordings are played or purchased online, but that’s just a trickle of income.