Tag: Estate Planning
A dispute between the family of Ernie Banks and the woman who cared for him during his final years intensified Monday with his twin sons asserting that the caretaker coerced the Chicago Cubs baseball great into signing a new will giving her all his assets. Ernie Banks, a.k.a. “Mr. Cub”, suffered a protracted illness before […]
While some might think family-owned sports teams are more plagued than Boston was by the 86-year “Curse of the Bambino,” I encourage you to look past curses to investigate causes. Identify potential estate and financial planning challenges your business might face, and deal with them. You’ll have better odds your family ends up on the […]
So you’ve got a private foundation. Have you thought about who would run it after your death? Peter Karoff, founder of The Philanthropic Initiative, an advisory arm of the Boston Foundation, has some advice for donors and heirs: start planning. For those who want to make charitable giving a part of their estate plans, private […]
Trusts can range from simple to extremely complex, and are a standard tool in the anti-estate-tax arsenal. Trusts are a legal entity managed by a trustee for the benefit of others. Beyond that, however, trusts can get murky as there are many different types of trusts that are sometimes confusing to non-experts. Which one is […]
Fewer young people are taking the trip down the aisle, opting instead to cohabitate. This is creating a variety of unique planning concerns. Americans that are choosing to cohabit rather than to marry do so for various reasons. Some don’t believe in marriage, while others who fall in the wealthy tax bracket opt to cohabit […]
The loss of a spouse creates different considerations for women than men as women are more likely to face financial challenges, according to a recent study. Here are some tips for addressing planning issues with recent widows. Although both widows and widowers face estate planning challenges after a spouse passes away, studies show that single […]
Just when you thought the estate tax laws were permanent, President Barack Obama comes out with a comprehensive plan for changes that would take away many strategies that save wealthy families taxes. As we’ve said before, estate planning is not a one-time project. As life changes, you need to make adjustments to your plan. And […]
Robin Williams’ children and wife have gone to court in a fight over the late comedian’s estate. In papers filed in December in San Francisco Superior Court, Williams’ wife, Susan, says some of the late actor’s personal items were taken without her permission and asks the court to exclude the contents of the Tiburon home […]
A wealthy elderly woman in Zhengzhou, Henan Province, has social media buzzing after posting a classified ad in the hopes of finding an adult daughter to keep her company and possibly inherit her fortune. Do you have wealth to pass on, but no children to leave it to? Let’s explore your options, even the unconventional […]
January is generally a busy month for estate planners as clients follow up on resolutions to get their estate plans in order. Here are some to-do’s you should consider for 2015 and beyond. So I have an estate plan … now what? Now you update your plan consistently. Don’t assume that establishing a plan is […]
