For any college football fan, Penn State graduate, or anyone else interested in the life and death of Joe Paterno, it now appears as if the details of his last will and testament will always remain a mystery. According to the Wilkes-Barre Citizen's Voice newspaper, a Pennsylvania probate court judge has ordered that the Will be sealed. The petition requesting that the Will be sealed, as well as the courts order granting the petition, are also sealed. Pennsylvania probate attorneys have stated … [Read more...] about Paterno Will to Remain a Secret
Wills & Trusts
Estate Planning: Faith Matters
People creating an estate plan have to deal with uncomfortable questions of mortality and death. For many, these questions naturally lead to questions of religion, values, and ethics. For the faithful, an estate plan is not merely an exercise in legal formalities, but a way to ensure that your values and religious faith are affirmed and protected after you die. Here are several issues you may want to consider if religious concerns are important to you. 1. Your Representatives If you name an … [Read more...] about Estate Planning: Faith Matters
Thomas Kinkade Estate In New Legal Fight
No sooner had artist Thomas Kinkade died in April than his estate was embroiled in a legal fight over the release of information about the artist's life. Now, a California probate court judge is considering whether the artist's live-in girlfriend, Amy-Pinto Walsh, can have her day in court, or if she should submit her claims only in a secret arbitration hearing. Ms. Pinto-Walsh had been living with Mr. Kinkade at the time of his death, having also served as his personal assistant. Mr. Kinkade … [Read more...] about Thomas Kinkade Estate In New Legal Fight
3 Estate Planning Issues For the Divorcing Couple
One of the most important times for you to review, or begin creating, your estate plan is when you go through a change in marital status. A divorced person has distinctly different estate planning concerns than a married person, and your estate plan needs to take these differences into account as soon as possible. Here are three common estate planning issues that divorced or divorcing people need to address. Issue 1: No more spousal share. All states have laws that give each spouse the right … [Read more...] about 3 Estate Planning Issues For the Divorcing Couple
Moving? Your Estate Plan May Need An Update
A good estate plan is one that will last you a long time, provided you don't just let it sit in a drawer somewhere gathering dust. There are certain events in life that should prompt you to at least review your estate plan so you can be assured it will be ready when you need it. Moving is just such an event. While you probably won't need to make any changes if you move to a new home within the same state, crossing state lines is potentially problematic for any estate plan, and you will want to … [Read more...] about Moving? Your Estate Plan May Need An Update
So You Want To Challenge a Will – 3 Requirements
Requirement 1: You have to qualify. If the courts simply allowed anyone off the street to come in and challenge a Will whenever they wanted, it would be an absolute disaster. In order to challenge a will, you must first be able to prove that you have what is known as “standing.” To have standing to challenge a Will, you must be able to gain something if you win the challenge. This essentially boils down to whether you would have inherited more under a previous Will, or under the laws of … [Read more...] about So You Want To Challenge a Will – 3 Requirements
Judge Issues Ruling in Gary Coleman Estate Dispute
After a brief trial, a Utah probate court judge has declared that the former spouse of former child star Gary Coleman was not legally married to him when he died in 2010. The court did not issue its final ruling about who will inherit Mr. Coleman's estate, though it now appears that his entire estate will go to Anna Gray, his former girlfriend and CEO of his personal corporation. Mr. Coleman's former spouse, Shannon Price, had claimed that the couple had effectively become remarried through … [Read more...] about Judge Issues Ruling in Gary Coleman Estate Dispute
Changing an Irrevocable Trust – What is Decanting?
If you have created an irrevocable trust, you probably know that the trust cannot be changed after you make it, which is why it is called irrevocable. However, there are some situations in which the terms of an irrevocable trust can be modified, one of which is known as decanting. Though the decanting process does not actually alter the terms of the irrevocable trust, it effectively allows the trust property to be managed under new terms. Let's take a look at what decanting is. The Decanting … [Read more...] about Changing an Irrevocable Trust – What is Decanting?
Wills And Notaries – 3 Questions
Question 1: Do I need to have my Will notarized? No. There is no state requirement that says you must have your will signed before a licensed public notary. The law requires that for your Will to be legal, you must create a document that contains your wishes, sign it, and have it signed by two capable adult witnesses. Having your Will notarized is not a valid substitute for any of these requirements, meaning that even if you do have it notarized that doesn’t make it a legal Will. Question 2: … [Read more...] about Wills And Notaries – 3 Questions
Astor Estate Saga Comes To An End (Mostly)
The lengthy legal battle over one of New York's most well-known philanthropists and socialites has finally come to an end after the parties have reached a settlement in a New York state probate court. Though Brooke Astor died in 2007, her estate has been fought over since then and has only recently concluded. As part of the settlement, her son has accepted a slashed portion of his original $30 million inheritance. Mr. Anthony D. Marshall, Ms. Astor's only son, will inherit a $14.5 million from … [Read more...] about Astor Estate Saga Comes To An End (Mostly)
