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A 54-year-old O’Fallon, Missouri man was sentenced Friday for scamming lenders by telling them he was the beneficiary of a multi-million dollar inheritance, U.S. Attorney Richard Callahan said. Fox 2 Now reported the story in an article titled “O’Fallon man sentenced for bogus inheritance tale.” A Missouri man, Dana Jefferson, was recently convicted of scamming […]
“I can tell you that careful planning has been done so that estate taxes at Sumner’s death will not require a forced sale of the stock,” Bishop said. “I cannot give you any other information about his estate plan. It’s private.” Bloomberg Business reported the story in an article titled “Redstone Says Trustees to Oversee […]
Along with all the other paperwork that comes with being newly widowed, Roberta Bekerman had to persuade Delta Air Lines that she was entitled to inherit her husband’s frequent-flier miles. The company’s policy says that its SkyMiles, as they are called, may not be transferred “under any circumstances,” including death. But Ms. Bekerman, whose husband […]
A dying man left money in his will as a surprise for his best mates, so they could go on a boozy holiday together. Roger Brown of Swansea, England recently died of prostate cancer at the age of 67. It came as a surprise to his friends that Brown left them a small sum of […]
A Walnut Ridge woman was arrested Thursday for forging a will after someone else had died. KAIT reported the story in an article titled “Woman arrested for forging new will after someone died.” An Arkansas woman, Kimberly Dement Dotson, has been arrested for allegedly forging the will of an elderly person. She is believed to […]
Every year, you’re allowed to give another person up to the annual gift tax exclusion—this year $14,000—without reporting the transfer to the IRS or having to pay taxes on the sum, says CPA Cari Weston, senior technical manager of the American Institute of CPAs taxation division. Have you ever wondered if a large financial gift […]
If you’ve been in business for long, chances are you’ve heard at least a few tales of probate problems plaguing family members, would-be successors or remaining business partners. So, how can you avoid probate? Many small businesses have had problems with probate. In the worst cases, the problems have led to the end of the […]
With millions of Americans woefully unprepared financially for retirement, many have come up with a workaround for not putting away a big enough nest egg. They plan on inheriting enough to pay the bills when they stop working. But what if the older generations don’t leave inheritances behind? Uh-oh. A recent retirement survey included 1,000 […]
If you do not have a will the state will provide one for you. And if you are married with young children and both parents die who becomes the children’s guardian will be up to the state’s court system. No will? No problem – the state will provide one for you. But how likely is […]
For those who are fortunate to enjoy their retirement and have enough money to leave behind, they might be wondering whether it is best to leave an inheritance or gift their assets? Although the percentage of taxes owed on gifts and inheritance is the same, one is inclusive and one is exclusive, and the dollar […]
