Barry Donovan died a happy man. Not only was he joining his late wife, Sarah, in the great beyond, he was also confident his assets would be fairly distributed in accordance with his will. Several days after he had been laid to rest, Barry’s five children—James, John, Sarah, Sally, and Iris—and his surviving siblings—Joseph, Sally, and Sarah—gathered for the reading…
Should You Hire A Professional Fiduciary?
Marilyn Simons was irate.
“I’m telling you, Bob, that estate planning attorney thinks we have raised a bunch of dummies. We have three children, all perfectly competent adults. Why shouldn’t we nominate one of them to oversee our affairs? I am quite sure none of them would object.”
Anna Mercer’s family was quite excited when she met and married Klaus Jergen. After their joyous nuptials, the couple moved to Vienna, Austria, where Klaus was employed at a local school as a history teacher. Anna, a pastry chef, soon found employment at a local bäckerei or bakery, where she perfected the art of the Sachertorte and the Linzer torte.…
I do a lot of presentations before groups and one of the most common questions I am asked is “How often do I need to update my estate plan?” As with just about any question asked of an attorney, the answer is, “It depends.” It depends on both changes in the law, both federal and state, and it depends on…
After a long and happy life, Grandpa Watkins moves on to the great beyond. He leaves a Last Will and Testament, duly signed and witnessed, in which he expresses his desire to have his assets divided equally among his two sons and two daughters. Unfortunately, several years prior to Grandpa Watkins’ death, his eldest daughter, Lilabeth, was killed in a…
It’s the classic movie scene: Three people are trapped underground with little hope for a timely rescue. The first curls up into a ball and prepares for death. The second starts talking about missed opportunities. The third takes out a small notebook and writes a will. When their bodies are discovered, the third person’s will is also found. But is…
All newlyweds hope for “happily ever after.” Unfortunately, for almost half of Americans who wed, that dream does not reflect reality. Experts say between 40 and 50 percent of all marriages in the United States will end in divorce. Every 10 to 13 seconds someone legally ends their marriage. That means assets accrued before and during marriage may ultimately wind…
Estate planning is a critical necessity when someone is diagnosed with a terminal illness: It is vital that the proverbial “house” be put in order. Timing quickly becomes a concern. At a certain stage in a terminal illness, it may become difficult to ascertain desires, or identify the information required, to carry out effective estate planning. In addition, mental competency,…
Aunt Minnie may appear to be a little flighty and forgetful, but does that mean she is incapable of creating and legally executing (signing) a will? The answer is complicated. The preparation of an estate plan, which may include a will, trust, and/or other documents, involves many steps. Assets and liabilities must be identified and decisions need to be made…