When Whitney Houston died last month at the age of 49, she left behind a last Will and testament that dictated that her entire estate would be inherited by her only daughter, Bobbi Kristina Brown, age 19. While the details of Ms. Houston's Will are quite common and do not appear to contain any strange or potentially problem causing terms, we can look at her Will as an example of what you can do when creating your own. Here are three issues you may wish to consider when creating your own last … [Read more...] about Whitney’s Will – 3 Instructional Issues You Can Use When Creating Your Own Will
Estate Planning
Practical Inheritances – Why Less Can Be More
If you have an estate that will allow you to leave substantial amount of inheritance to your children or other family members, you may want to think twice before you decide to give the entire amount to them. Those who inherit large sums of money often face challenges that are rarely spoken about, yet no less difficult. Here are a few reasons why a sudden large inheritance can leave your children unhappy and unfulfilled. Concern 1. Bankruptcy. It's estimated that more than 70% of NBA players … [Read more...] about Practical Inheritances – Why Less Can Be More
Art and Estate Planning – 3 Issues
Art collections can prove to be a difficult piece of your estate plan, especially if you've acquired a collection that has appreciated significantly. For some people with significant collections, their art can make up a large portion of the value of their estates, with the art continuing to increase in value even as other assets stagnate. If you have an art collection of significant value, there are several issues you need to be aware of as you develop your estate plan. Issue 1: Estate taxes … [Read more...] about Art and Estate Planning – 3 Issues
Picking A Charity When Estate Planning
For many people, the idea of leaving a beloved charity or nonprofit organization a gift as part of your estate plan is essential. If you want to do this, it is important that you and your estate planning attorney sit down and discuss not only how much you wish to give, but also the charity to whom you wish to leave your gift. Here's a simple process you can go through to help you identify and choose a good charity. Step 1: Make a list. Start your charitable donation search by creating a list … [Read more...] about Picking A Charity When Estate Planning
With More Baby Boomers Retiring, Retirement Homes Are Out of Style
The estimated 10,000 baby boomers that will reach the age of 65 on each and every day between the years of 2011 and 2030 are making it more and more apparent that the traditional idea of what a retirement home should be is no longer adequate. Any baby boomer making an estate plan should consider several key topics and issues that you will want to account for if you are considering an assisted living community as part of your plan. Issue 1. Lifestyle. For healthy and active baby boomers, the … [Read more...] about With More Baby Boomers Retiring, Retirement Homes Are Out of Style
Elder Abuse Risks With In-Home Caregivers
As an estimated 10,000 or more Americans reach the age of 65 every day, the potential threat of elder abuse becomes more and more pronounced. Though incidents of abuse are not as widely reported as those of domestic violence, it's estimated that about one in 10 elderly people will suffer some kind of abuse at some point in their lives. Those who are under the care of at-home caregivers are especially at risk, given that the caregiver is around the elderly person more often than most other … [Read more...] about Elder Abuse Risks With In-Home Caregivers
Watch The Oscar Nominated Descendants – Especially If You’re Leaving Your Children A Lot
The 2011 film The Descendants was nominated for five Oscars in 2012 and took away one for best adapted screenplay, but it also has some estate planning issues involved in it that should be of interest to many people who are beginning the estate planning process. In the film, George Clooney plays wealthy attorney Matt King, who is left to care for his two daughters after his wife is injured and left in a coma. As the descendant of a Hawaiian princess and a wealthy white man, King is one of the … [Read more...] about Watch The Oscar Nominated Descendants – Especially If You’re Leaving Your Children A Lot
Top Philanthropist of 2011 Died in 2006
Every year the Chronicle of Philanthropy releases its list of the most generous donors. In 2011, the single largest donor was someone who has not been alive since 2006. Margaret Cargill, heiress to one of the nation's largest private companies, gave two different charitable organizations $6 billion to split between them. If you have never heard of Ms. Cargill before, it's quite understandable. Though Cargill has been the nation's largest privately held company for 11 of the past 13 years, it … [Read more...] about Top Philanthropist of 2011 Died in 2006
Why Watching Downton Abbey Can Be Helpful
The legions of fans who devotedly watch the British drama “Downton Abbey” on PBS have become engrossed in the lives of the ensemble cast of the aristocratic family portrayed in the show. If you've not yet been initiated in the drama, let us bring you up to date. Downton Abbey follows the lives of the Crawley family and its ancestral home, the eponymous Downton Abbey. Following the death of the family heir on the Titanic, the show follows the lives of the family members as they navigate through … [Read more...] about Why Watching Downton Abbey Can Be Helpful
Whitney Houston Tops the Charts After Her Death
With a musical legacy that leaves behind films, hit songs, and over 200 million album sales, the Whitney Houston estate stands to earn a substantial income now that the singer has died prematurely at the age of 48. Within 24 hours of her death, her best-selling song “I Will Always Love You” once again became a bestseller, reaching the top spot on iTunes list of best-selling singles. It should be no surprise that an artist's death can spur an increase in sales by fans. When Michael Jackson died … [Read more...] about Whitney Houston Tops the Charts After Her Death
