Tag: Trusts
Among the many benefits of having a well-designed estate plan is making the process of administering your estate much less of a burden on your heirs and maximizing assets that can be passed to subsequent generations. Another benefit to be valued – privacy. Estate planning can help your estate avoid probate, the legal process of […]
The tragic and untimely death of Whitney Houston’s daughter Bobbi Kristina Brown holds a number of lessons in estate planning that are applicable for parents and young adults. Because of laws that control information and decisions with regard to medical treatment, it is imperative that anyone over 18 have written advance medical directives in place. […]
Many banks and financial services companies offer a variety of services related to creating and managing trusts. When large trusts are established for minor children, it is necessary to use a professional trustee, but there are no guarantees that the professional trustee will carry out their fiduciary duties appropriately. Tragically, seven year old Angela Militello […]
A trust created by Archbishop Desmond Tutu, has been quietly dissolved earlier this year, yet another victim of a family that does not appear to be enjoying the peace that the famed leader devoted his life to creating for others. Desmond Tutu won the Nobel Peace Prize for his efforts to end racism and corruption […]
Being asked to serve as trustee of a family member’s trust might sound like an honor. It involves stepping into the shoes of the person who created the trust to play an important role. But is the role right for you? Are you up for the job? You may feel flattered if asked to serve […]
The Vanderbilt family has fallen into a full-blown public spat with the nonprofit organization that now owns their spectacular Rhode Island mansion called The Breakers. The Breakers is currently owned and maintained by the nonprofit Preservation Society of Newport that proposes to build a visitors center on a currently empty portion of the estate to […]
Unconfirmed reports point to a battle between the Houston family and Whitney’s ex-husband, Bobby Brown, over daughter Bobbi Kristina’s end-of-life care. Beyond moral considerations, however, there are tens of millions of dollars playing a behind-the-scenes role in the conflict. Whitney Houston’s will did not leave her daughter, Bobbi Kristina Brown, an inheritance in a single […]
Selecting an individual to serve as a trustee is a challenging process, and the usual default is to a family member. But that’s not always the best solution. Here are some points to consider on the selection of a trustee. One of the toughest decisions in estate planning centers on selecting a trustworthy family member […]
As Gina Rinehart now knows, you cannot operate trusts solely out of your own self-interest when others are involved, even if you are the richest person in Australia. How do you become the richest person in Australia with a net value of over $12 billion? By leading the charge of Hancock Prospecting, one of the […]
A more precise estate plan may have saved the family of Robin Williams from their last round of court appearances to finally settle the late actor’s estate. At first it seemed that, after Robin Williams’ suicide, his estate was properly in order to be clearly distributed to his family without controversy. But during that process, […]
