Tag Archives: Legal Relationships

When a Do-It-Yourself Divorce Goes Wrong

> Removing the counsel of experts rarely results in decreased costs and increased efficiency. > Each asset’s characteristics must be considered carefully when being transferred, whether it is due to divorce, planned giving or death. > Integrating your advisers allows … more

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Estate Planning, Marriage and Divorce

When considering marriage or a divorce, your estate planning is likely low on the list of priorities. However, these are significant changes in a family situation that should trigger an immediate review of your existing estate planning documents or preparation … more

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Prince Estate Update – Rumors and Reality

> The presence of a proper estate plan ensures efficient administration while reducing the likelihood of conflict amongst family members.   > Life insurance or other liquidity can alleviate the strain on the estate in the interest of preserving the … more

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Prince Leaves a Complex, Unplanned Estate

> Without an estate plan, Prince’s half-siblings will stand to inherit the same share as his full-sibling.   > Failure to plan for a potential estate tax liability may lead to a forced liquidation of estate assets, including his vault … more

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Lamar, Khloe & the Urgency of Estate Planning

> Estate planning documents should be reviewed or prepared immediately upon consideration of divorce or any other significant life event. > Divorce does not affect estate planning documents upon filing, only when the divorce is final. > With proper planning, … more

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Spectrum of Withdrawal Limitations

> Trusts allow for withdrawal limitations ranging from common to creative. > Overly-specific requirements may burden the family and trustee and be struck down if they violate public policy. > Understanding and anticipating the practical administration of the estate prior … more

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The Death of Whitney’s Daughter

> Outdated estate planning documents can be as dangerous as not having an estate plan at all. > A proper estate plan should provide significant asset protection and oversight for your beneficiaries. > A change in your family or financial … more

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Mr. Cub’s Family and Caregiver Battle Over Estate

Chicago Cubs legend, Ernie Banks (“Mr. Cub”), passed away on January 23, 2015, at age 83. His death certificate indicates that he suffered not only from cardiac arrest but also dementia. It appears that Banks’ friend and caregiver, Regina Rice, … more

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Flaws in Drafting Can Be Very Expensive—Herbert’s Story

This is the story of a man named Herbert who made one crucial mistake in his estate planning.1 Although Herbert is the main character of the story, it is his surviving family members who are left to clean up the … more

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Powers of Attorney: Underrated Estate Planning Documents

POWER POINTS: 1. Powers of attorney are an integral part of any proper estate plan. 2. The costs and consequences of not having powers of attorney in place far exceed the cost of having the documents prepared. 3. Every adult … more

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