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The will of Melissa Mathison, who passed away in November with an estate estimated at $22 million, is missing. Melissa Mathison, famous for writing the screenplay for the movie E.T. and being the ex-wife of actor Harrison Ford, died of cancer in November. The couple’s divorce was the subject of much gossip as Mathison walked […]
Gordon Getty, the heir to J. Paul Getty’s estate, says he loaned his son money and now he wants it from the estate. Wealth and sometimes tragedy have followed the heirs to J. Paul Getty, once the richest man in the world. One was famously kidnapped as a child and had his ear cut off […]
Leaving a large sum of money to a youthful heir can often create unexpected challenges and difficulties but a case study of what happens to the wealth of some professional athletes could provide insight. Some professional athletes are often as famous off the field as on but not always for positive reasons especially when they […]
Both the executors and the heirs who inherit property could get their ways in fair market value differences for estate tax and capital gains tax purposes – until now, because the loophole is closed. The value of an estate determines the amount of tax due with no estate taxes due if the estate was worth […]
The estate of former Yugoslavian dictator Tito, which has been stalled for 35 years, will possibly be closed by early 2016. The estate of Joseph Broz Tito, who ruled over Yugoslavia as a dictator for more than 30 years, may finally be approaching closure 35 years after his death. Tito passed away in 1980 and […]
A key part of an annual year-end review of financial planning should include a review of the estate plan. As the end of each year approaches, people who keep close watch on their financial plans take that time to look at investments, asset relocations and a close look at the status of their retirement plans. […]
The death of the Red Duchess in Spain in 2008 sparked a legal battle over her estate which has ended with a court ruling she was wrong to cut her children out of the estate. Luisa Isabel Álvarez de Toledo, the 21st Duchess of Medina Sidonia, decided she did not want her children to inherit […]
A family member may need more than the $14,000 annual gift tax exemption allowed and a loan can sometimes be the answer. The annual gift tax exemption of $14,000 ($28,000 for a couple) is sometimes sufficient in terms of gifting money, but a specific reason for the gift could push that number higher. A loan […]
As end of year approaches, it is time for celebration, holiday gifts and tax planning. Tax consequences often need to be considered when it comes to giving some gifts on holidays while others—small, less expensive gifts—fall under the radar and have no major tax implications. However, what if you want to give something bigger, such […]
Former NBA player Lamar Odom may have made a mistake with his estate planning when he apparently didn’t consider divorce in his planning. Lamar Odom, husband of reality TV star Khloe Kardashian, was found recently near death in a Nevada brothel and may have made a mistake in his estate planning prior to the incident […]
