Jimmy Buffett died on September 1, 2023, at age 76 after a diagnosis of Merkel cell carcinoma (skin cancer) four years earlier. He was a renowned singer-songwriter, film producer, businessman, novelist, and philanthropist. Buffett released his first album, Down to Earth, in 1970. By 2023, his net worth was $1 billion. This blog discusses the Jimmy Buffet estate.
Category Archives: Uncategorized
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Mar
Mar
Although gifts made within three years of your death are generally includible in your estate, an exception exists if a gift tax return was not required to be filed because the value of the gift was less than the annual exclusion amount. Transfers relating to life insurance policies, however, are an exception to this exception.
Celebrity Estates, Estate Planning, Probate, Uncategorized
Celebrity Estates: Lessons from Anne Heche
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Nov
Nov
Normally, somebody in the will specifies an administrator (a person who oversees settling of the estate).
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Sep
Sep
When choosing trusted decision makers, select individuals based on their strengths. In other words, consider which characteristics or traits each decision-making role requires.
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Aug
Aug
Unfortunately, some trustees fail to comply to inform. This leaves beneficiaries in the dark about their trust. The reasons for this failure to communicate vary. Some trustees fail to understand their duties.
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Aug
Aug
n willing (and able) to do what you are asking of them. A complete estate plan includes not only a first choice, but two backups for each of these positions.
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Jun
Jun
About 80 percent of Americans carry some type of debt. This includes credit cards and student loans as well as mortgage debt and personal loans.
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Jun
Jun
The National Association of Home Builders reports that people owned 7.5 million second homes in 2018. This makes up 5.5 percent of the total number of homes. Such vacation property must be planned for, managed, and maintained. What’s more, they birth happy memories for their owners. Consider these estate planning questions to protect your place […]
Adoption Law, Estate Planning, Life Changes, Trusts, Uncategorized
Springing Financial POA (Powers of Attorney)
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Feb
Feb
After a Financial POA springs, the person nominated to handle your affairs may do what you would have otherwise done sans incapacitation.
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Feb
Feb
A key lesson is that no one knows when they will pass away. Even someone as important and well-versed in the law as Abraham Lincoln was caught unprepared for his untimely demise, sadly leaving others to guess what his wishes would have been with respect to his property.