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.
Posts Categorized: Estate Litigation
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.
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.
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.
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.
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 richest person in Houston, died in late March of a brain hemorrhage at 77. Had his life ended three months earlier, Mr. Duncan’s riches —… Read More »
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 vehicles. States such as Alaska, Delaware, Nevada, New Hampshire, South Dakota and Wyoming have modified their trust laws in recent years to make them more… Read More »