By dying in 2010, the billionaire and long-time New York Yankees owner’s wealth avoids the federal estate tax, likely saving his heirs enough money to field an entire team of Alex Rodriguezes.
Posts Categorized: Trustees
Heartbreaking stories like this are way too commonplace. We have had our share of similar, well-publicized problems in Hawaii. A primary mode of elder financial abuse is by the misuse of durable powers of attorney. Powers of attorney can be helpful tools, but they must be carefully managed and maintained, and they must be judiciously granted. It pays to have checks and balances, as well as systems of accountability, in place.
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 »
This blog posting answers some critical questions about trusts, asset preservation, and estate taxes.
What is a revocable living trust and how could I and my family benefit from one? This post answers some basic questions.
Just when you thought it was safe to log on to your computer. What happens to all of your personal information if you become incapacitated or die? You might want to think about that.