The quaint little house Steinbeck called “my little fishing place” is the focus of a long-running and bitter family estate battle, pitting the surviving sister of the author’s third wife, Elaine, against his oldest son and a granddaughter. Even the best planning can’t prevent all conflict, but there are things you can do to discourage it.
Posts Categorized: Estate Litigation
5 FACTS YOU SHOULD KNOW ABOUT REAL ESTATE TRANSACTIONS AND YOUR ESTATE PLAN
While real estate can be easily transferred or mortgaged, it is important to seek advice from a qualified professional to adequately protect your property and maintain the integrity of your estate plan. Here are five points to ponder.
Warning Signs of Elder Financial Abuse
America’s vulnerable, graying population, and the concentration of wealth among older adults, has created a massive opportunity for fraud. Hard statistics are not available, but experts suspect that perhaps half a million elderly adults are ripped off by family members, lawyers and accountants every year, potentially taking $2.6 billion from infirm older Americans. The crime is known as elder financial abuse.
The Case Against Do-It-Yourself Wills – Forbes.com
You can do your estate planning documents yourself, but by saving a few bucks now, you may cost your loved ones a lot more later. Here is an excerpt from, and link to, an interesting article by Deborah L. Jacobs.
How to Make the IRS and Lawyers Prosper at the Expense of Your Beneficiaries
A scenario that plays out far too often: a parent’s intended beneficiaries lose most of their inheritance to the IRS, court costs, and lawyers. This recent Tax Court case provides a cautionary tale about the perils of incomplete planning.
NorthJersey.com: Family feud may test boundaries of inheritance law
The good news is, these folks have plenty to fight over and the lawyers are going to make a ton of money. The bad news is, when people fight over estates, the lawyers often end up being the only winners.
Estate Tax Dormant, Billionaire’s Bequest Is Tax-Free – NYTimes.com
Dan L. Duncan, a soft-spoken farm boy who started with $10,000 and two propane trucks, and built a network of natural gas processing plants and pipelines that made him the… Read More »
States Compete for Trust Business – WSJ.com
About half a dozen states are actively vying to attract wealthy families' trusts, as well as the jobs and tax revenue that come from the companies that administer these estate-planning… Read More »