How to Fund Your Trust to Avoid Probate

A common estate planning mistake many people make – including celebrities like Michael Jackson – is not ensuring the trust you have created holds all your assets. Unfortunately, most lawyers simply do not make sure this is properly handled for their clients, so if you’ve worked with any law office other than ours, you need […] The post How to Fund Your Trust to Avoid Probate appeared first on The Heritage Law Blog .

Debunking Gift Taxes Myths

Many people are confused about the subject of gift taxes. While only two states — Connecticut and Minnesota — have a state gift tax, there is a federal gift tax you may need to be concerned about. Here are some common myths and the actual truths about gift taxes: Myth: The recipient must pay taxes […] The post Debunking Gift Taxes Myths appeared first on The Heritage Law Blog .

How Seniors Can Avoid Being Taken Advantage Of

A 2010 study conducted by the Investor Protection Trust found that more than seven million older Americans — 20 percent of those over the age of 65 — had already been a victim of financial abuse. Here are some tips on how you can ensure your parents (or you in the future) can avoid becoming […] The post How Seniors Can Avoid Being Taken Advantage Of appeared first on The Heritage Law Blog .

A Touching Memorial from One of March Madness’ Greatest

It’s no secret that I’m a huge fan of March Madness, the annual college basketball tournament, but rarely does that passion overlap with my estate planning practice. Not so this year as Dean Smith, the legendary North Carolina University basketball coach, used his estate plan to leave a legacy as admirable as his on-court success. […]

Reasons to Establish a Trust (and Being Rich Isn’t One of Them)

When you hear the words, “trust fund,” do you conjure up images of stately mansions and party yachts? A trust fund – or trust – is actually a great estate planning tool for many people with a wide range of incomes who want to accomplish a specific purpose with their money. Simply put, a trust […]

No One Feeling Good About Continuing Battle Over James Brown Estate

James Brown was known for his signature song, “I Feel Good,” but no one is feeling good about the battle that is still being waged over his estate almost a decade after his death in 2006. The majority of Brown’s estate – estimated to be in the tens of millions of dollars – was distributed […]

Why Every Family Needs an Agent

Everyone needs an agent – and not the Hollywood type. An agent is someone you designate to handle your estate after you’ve gone or who can make decisions for you if you cannot make them for yourself. Here are the kinds of agents everyone needs: Executor – an executor is the person you designate to […]

Life Lessons From Celebrity Deaths on Updating Your Estate Plan

A new year always brings the sad reviews of notable personalities who have died in the past year. Two notable movie stars – Philip Seymour Hoffman and Paul Walker – provide a cautionary tale on the importance of keeping your estate plan and will up to date. In Hoffman’s case, his 2004 will had never […]

10 Tips to Ensure Family Harmony Over Your Estate Plan

When your children were small, you no doubt suffered the challenge of keeping peace in the family. We see this same scenario play out time after time among adult siblings […]