Category Archives: Asset Distribution
James Brown’s Estate Settles For Sale Of $90 Million
Owning a lot of assets presents unique estate planning challenges, a lesson that has left many potential heirs of celebrity estates with more questions than answers in recent years. James Brown, like many other celebrities who have become the subject of recent study, did not complete his estate planning prior to passing away. It… Read More »
What Are the Real Stakes Of Passing Away Without A Will?
The chances that you may pass away without having a will in place are extremely high. Although more people have reported awareness around estate planning as a result of the pandemic, plenty of people still have not taken the right action step to protect their interests in moving forward with estate planning. You may… Read More »
Study Shows that Some of America’s Wealthiest People Are Ready to Transfer Their Assets
The tax overhaul from 2017 has prompted many people to rethink their overall estate and tax strategies. The coronavirus pandemic has also made it easier for some of America’s wealthiest families to pass on assets to their grandchildren and children tax free. Volatile markets and plunging interest rates have created a unique opportunity just… Read More »
Should You Give All of Your Assets to Your Adult Child?
Deciding whether or not to gift something over the course of your life or to pass it on once you are no longer around is an important decision, especially with regard to the federal gift tax. Every person can gift up to $15000 per year free of gift tax. This means that you do… Read More »
Is It Possible You’ve Forgotten Assets in Your Estate Plan?
The number and type of assets that people own today is constantly evolving, which presents significant challenges for people who don’t look at their estate planning that often. Thankfully, an estate planning attorney can help to review your checklist of an inventory of items that go inside your estate. There are some assets that… Read More »
What Unique Assets Were Left Behind by Famous People in U.S. History?
Ancestry.com’s U.S. probate and wills collection provides vast details about what people in the past left behind to their loved ones. Some of the most interesting items left behind by famous people in history include: A snuff box left by U.S. Secretary of State, Daniel Webster, to his grandson. An island given by railroad… Read More »
What Assets Need to Be Included in My Estate Inventory?
Each person’s estate inventory will look unique, but a careful consideration of the different types of assets that should be included can make it easier for your estate executor and your loved ones when you pass away. One of the primary reasons that people sit down to establish an estate plan is to ensure… Read More »
High Net Worth Families More Comfortable Revealing Information About Their Money
A recent study conducted by Wilmington Trust identified that individuals with high net worth who are older today are more comfortable sharing the intentions of their estate with the beneficiaries. The study included nearly 60 families with at least $20 million in assets but nearly three quarters of the study participants had at least… Read More »
Tips for Choosing an Executor
When approaching the estate planning process, your executor is the individual who has the legal responsibility to ensure that all of your estate planning intentions and plans are carried out to pay out any debts, bills and taxes, and to ensure that your assets are transferred properly. When identifying the right person to choose… Read More »
More Americans Are Passing Away with Debt Than Ever
A recent study of 220 million consumers in Experian’s File One database, indicated that up to 73% of consumers are passing away with debt in high numbers. For those individuals who do not have a home loan, the average debt was $12,875. However, consumers with a mortgage carried approximately $61,554 in debt. You may… Read More »