Money and property may be the most discussed types of wealth that a person owns. But the riches of their experience and wisdom can mean even more to loved ones down the line. Reinforcement of family traditions build into your estate plan. In fact, they go alongside your wishes regarding the distribution of your money, […]
Category Archives: Assets
29
Jan
Jan
Americans love to stay busy, often turning to hobbies to keep engaged and productive. We invest significant time, money, and emotions into our passion projects. Whether you collect classic cars in Glendora or create art in Upland, your hobby deserves consideration in your estate plan. In this post, we discuss special considerations for estate planning […]
20
Jan
Jan
Americans are, quite literally, getting buried in debt, with nearly half expecting to pass away with outstanding debts. As a rule, a person’s debts do not go away when they die. Some types of debt, such as federal student loans, are typically forgiven upon the debtor’s death. However, private loans and cosigned account holders may […]
10
Jan
Jan
Fitness icon Richard Simmons, known for his flamboyant personality, high energy, and trademark attire. He passed away in July 2024 following a fall at his Los Angeles home. A legal dispute lingers between his longtime housekeeper, Teresa Reveles Muro, and his brother, Leonard (Lenny) Simmons. The estate of the Sweatin’ to the Oldies star is […]
03
Jan
Jan
Losing someone you love to death is difficult. When your loved one’s mail continues to arrive, you may struggle even more. Once the court appoints you executor or personal representative of a deceased loved one’s probate estate, take these steps. The same is true if you serve as the successor trustee of the loved one’s […]
20
Dec
Dec
These words, uttered by James Earl Jones in his voice-over role as Darth Vader, are indelible in the minds of Star Wars fans. People know Jones also for voicing Mufasa in The Lion King and a series of cable news promotions in which he declared, “This is CNN.”
13
Dec
Dec
Congratulations! You are now legally an adult. Although you may not feel any different, from a legal standpoint, a great deal has changed. When you were a minor (under age 18), your parents were your legal guardians responsible for making all your decisions. Now that you are an adult, their legal authority over you is […]
15
Nov
Nov
You regularly check the balances of your retirement, bank, and investment accounts. But when did you last check the beneficiary designations on these accounts? And really, all the other accounts that allow you to name a beneficiary?
08
Nov
Nov
According to a stipulated agreement with Iswarienko, Doherty’s estate was able to retain the couple’s home in Malibu, California; a Salvador Dali painting; several cars; and all earnings from her acting. In addition, as part of the divorce proceedings, she had filed an income and expense declaration stating that she had $251,000 in the bank; another $1,880,000 in stocks and bonds; and insurance money from a lawsuit over damage done to her California home. She also stated that she had real property worth $3 million and $134,000 in a pension fund.
01
Nov
Nov
In cases where more than one family member is interested in the same item, the best-case scenario is that they can reach a peaceful resolution, perhaps involving trading other sought-after items. If there is an impasse, beneficiaries could sell the item in question and divide the proceeds equally. Another option is for one beneficiary to buy out the other beneficiary’s interest in the item. They could also draw straws or flip a coin. The solution may depend on whether the dispute is over a single item, like a ring, or over multiple items, resulting in a breakdown in the peaceful division of items.