As we’ve discussed elsewhere, in an almost knee jerk way, people want to avoid probate. And for some good reasons. But what if I told you there were a possibility your heirs might have to go through two or even three probates? It’s true. If you own titled property, especially real estate, in another state […]
Everybody wants to avoid probate, but far too many of those who want to avoid it, know what is. Here’s a primer: Probate is the legal process in which a deceased person’s will is proved valid; her personal representative or executor appointed; her property collected and preserved; and her debts, including taxes, paid. Usually, the […]
I really like the idea behind “The Positive Story Project,” a new monthly column at Wealthmanagement.com. Here’ the first three paragraph from the opening salvo: My goal in writing this column is to focus thinking within our community of practitioners—important players in the transfer of wealth to younger generations. And, with so much at stake for […]
The trusts I draft are almost always quite long–in excess of 40 pages. I sometimes wonder if they’re too long. And then I encounter a problem caused by a short, poorly drafted trust and wonder no more. Folks, you probably won’t discover what’s wrong with your trust or your parents’ trust until one of the […]
It doesn’t look a day over . . . : The estate tax turns 100.
Why doves cry. Half of Prince’s estate to go to government.
Some good advice about Social Security.
A power of attorney gives someone else–the agent–the power to act in place of the person granting the power–the principal. A durable power of attorney is a power that continues even after the principal becomes incapacitated, hence the adjective “durable.” If you or your attorney is drafting a power of attorney in Utah or any […]
What happens to your Facebook, Twitter, and Instagram persona when you die? You might want to consider that question.
Well, I guess since Prince didn’t have one, you don’t need one either . . . Prince’s sister has said the superstar musician had no known will and that she has filed paperwork asking a Minneapolis court appoint a special administrator to oversee his estate. Something tells me this will neither go smoothly nor end […]