How Executor Mistakes can Impact Your Estate

The role of an estate administrator also referred to as an executor, is to ensure that the deceased’s final wishes are followed and all of the legal obligations of the estate are fulfilled. Being chosen as an executor is considered an honor, but it is also an extremely difficult task that can lead to major problems if things are not done correestate-relatedebrity turned politician Sonny Bono passed away unexpectedly, Read More

Do Not Overlook Intellectual Property Rights

Fats Domino, one of the most well-known pioneers of rock ‘n’ roll, passed away on October 25, 2017 in his Louisiana home. With songs covered by both Paul McCartney and John Lennon, Fats Domino’s music influenced multiple genres. The famed musician and his wife (who predeceased him in 2008) left behind eight children and a large discography that included 35 Billboard Top 40 albums. Following the announcement of his Read More

Top Four Reasons Young People Need Wills

Multiple studies and surveys conducted throughout the United States have revealed that over 60% of adults do not have a will. When actor Paul Walker passed away in 2013, many fans were surprised that someone so young had a detailed estate plan in place that was created three years after the birth of his only child. The average adult under the age of 40 does not have a will and commonly cited reasons for not having an Read More

How to Spot Executor Fraud

Choosing a person to manage your estate is one of the most difficult and crucial tasks associated with estate management. Unless your estate is properly administered, it is impossible to know whether or not your final wishes will be respected, and choosing the wrong administrator could lead to executor fraud. Tom Carvel, the founder of Carvel Ice Cream, credited for the creation of soft serve ice cream, left behind a Read More

What Types of Probate Fraud are Common?

After a loved one becomes ill or passes away it has become increasingly common for him or her to draw the attention of those who specialize in probate fraud. Multiple studies have shown that probate fraud is on the rise, causing the most vulnerable among us to lose millions in various schemes. Princess Abagail Kawananakoa, a descendant of Hawaii’s last reigning Queen, found herself in the middle of a series of bitter Read More

Why Talking to Potential Executors and Guardians Before Naming Them is Vital

Naming someone close to you and your family as the executor of your estate or guardian of your children is viewed as an honor that shows how much you trust that person. However, there are times when the person you trust is not comfortable with serving in the capacity that you require.  Celebrity accountant and business manager Barry Siegel’s much-discussed decision declining to serve as a co-executor of Michael Read More

Estate Planning Economies That Lead to Disaster

The art of economizing has reached an all-time high as cash strapped adults explore extreme couponing, deeply discounted travel deals, and other ways to reduce their monthly budget without depriving themselves or their family.  Unfortunately, some adults do not realize that cutting corners at the wrong time can lead to expensive problems. When Star Wars actress Carrie Fisher passed away, her clear-cut will named her Read More

What Will Happen if I do Not Choose a Guardian for My Children?

Actor Charlie Sheen has been involved in various custody battles with two of his former spouses. At one point in the multiple disputes, the custody of two of Sheen’s children from his third marriage to Brooke Mueller was granted to his second wife Denise Richards. Though the situation was unusual, it shows how complicated custody battles can become when multiple adults are involved. If you or someone close to you Read More

How can a Special Needs Trust Help My Child?

Billionaire Oracle CEO Larry Ellison has never been shy about investing in the business ventures of his own two children. David Ellison and Megan Ellison used their trusts to launch Skydance Productions and Annapurna Pictures, becoming big names in the entertainment industry while amassing their own fortunes. While not every parent is able to match one of the world’s richest men when it comes to funding a trust, all Read More

Never Underestimate the Importance of a Detailed Letter of Instruction

Creating an estate plan helps you protect your heirs by securing the assets that you want to leave them. Unfortunately, leaving a will that is vague or not worded correctly can create problems that lead to disputes among your beneficiaries. After the death of Robin Williams, his widow found herself involved in a battle over the estate with the late actor’s children. According to his estate plan, certain family Read More