The recent death of “Sopranos” actor James Gandolfini has sparked a national commentary on the wisdom of his will. A recent article outlines several estate planning lessons that people should learn from Gandolfini’s will. Foreign Property is Treated Differently Gandolfini was lucky enough to own property in Italy. In his will, he left the Italian[...]
During a 2013 Northwestern Mutual webcast, one-third of those watching indicated that they have either drafted their own estate plan, or know someone who drafted their own estate plan. Whether these do-it-yourself estate plans are created through online programs or drafted by hand, a recent article explains that they can quickly become problematic. A simple[...]
A revocable trust, also referred to as a living trust, is an estate planning tool that a person can use to pass his or her assets outside of probate after his or her death. A recent article explains how a person may benefit from a revocable trust. When a person puts property in a revocable[...]
In the coming years, experts predict that the demand for estate planning services and expertise will be greater than ever. As a recent article points out, the nation’s aging baby boomers are currently entering the retirement phase of their life. This “silver tsunami” is increasing the need for retirement and estate planning. American’s senior citizens[...]
As women continue to give birth later in their lives, and more and more same-sex couples want to conceive children of their own, the use of artificial reproductive technology (“ART”) is becoming more and more prevalent. As a recent article explains, those who use ART, even if they never conceive a child, must factor it[...]
Estate planning can be a daunting task. However, there are certain steps a person can take in order to make the process go smoothly and avoid common mistakes. A recent article discusses several of these steps. First, be sure complete all documents in your estate plan. After you have completed all documents, ensure that your[...]
Many people create a “to-do list” before leaving for a vacation or other trip. As a recent article explains, several estate planning steps should be at the top of that list. By completing and updating your estate plan, you can travel with the peace of mind that, should you suffer serious illness or death, your[...]
Most pre-death transfers of wealth consist of transfers of money or other assets from parents to their children. As a recent article explains, these transfers can occur in many different formats, and have various impacts on those involved. Children often ask parents to give them a portion of their would-be inheritance while the parents are[...]
Although probate is beneficial for some estates, many people would like to avoid probate at all costs. For those who would like to avoid probate, a recent article discusses how a Revocable Living Trust (“RLT”) can help in this respect. Probate is a court-supervised process through which the instructions in a deceased person’s will are[...]
I am decidedly old school. I full well admit that some of the concepts on the new generation are lost on me. A few years ago, I attended a meeting for an organization dealing with human resources. They discussed how managing “millenial” and “Gen Y” employees was different from the past — how this younger[...]