So by now, you probably know that the Larry and Gail Miller family insured that the Utah Jazz would forever be the Utah Jazz–musical Mormon jokes aside (by the way ever heard of BYU’s Synthesis?). They did so via a so-called dynasty or legacy trust, a trust intended to live on and on and on, well […]
Something to think about from the MIT Technology Review: In August 2015, Samantha Schilit went to her primary care doctor to get a blood draw. A PhD candidate at Harvard specializing in human genetics, she was itching to unlock the secrets of her genes with a test called whole-genome sequencing, which provides a full readout […]
Naomi Cahn, a law professor at George Washington University, has some good advice for those who’ve recently parted ways with their spouse. You can read her advice in her piece “Protect Those You Love in Divorce, and Remarriage,” posted at Slitopia. If you find yourself a member of the recently divorced, I recommend you read […]
So attorney Steve Oshins publishes annual state rankings of virtually all things trusts. Want to know where your state’s decanting statute ranks? Go here. Interested in establishing a so-called dynasty trust? Look here to see what your state offers–if anything. How does your state treat non-grantor trusts for income tax purposes? Well, some states do […]
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 […]
Why doves cry. Half of Prince’s estate to go to government.
What happens to your Facebook, Twitter, and Instagram persona when you die? You might want to consider that question.