If you decide to leave assets in a trust for your beneficiaries, consider your designation of trustee carefully. The most important person in the trust framework is the trustee, the one responsible for managing trust assets.
During estate planning, one of the situations that you must plan for is the possible sale of real estate, artwork, and especially operating family businesses. What is sometimes overlooked in planning is what happens after there has been such a sale.
Estate planning is a systematic method that manages the personal and financial matters of a person in case of death. The legal document for the necessary plan for death is called the Last Will and Testament, which includes the set of instructions for the condition and distribution of the estates.
The surviving daughters of Don Lewis, a Tampa man who went missing 23 years ago this month, have filed a lawsuit in Hillsborough County court against Tiger King subjects Kenny Farr and Carole Baskin, along with a woman listed as a witness on Lewis’ will.
The period leading up to and shortly after losing a close relative is often one of the most emotionally demanding times that we, as humans, experience.
Death is not a favorite conversation topic. However, we all know it is something we must at some point discuss. The loss of a close friend or family member, or an event, such as the COVID-19 pandemic, seems to bring the topic to the forefront.
If you are like many moderately successful Americans, chances are you are worth more dead than alive. In many cases a lot more.
Small businesses are often caught up in growth cycles, profits and ensuring that products arrive to consumers on time. The life of a small business owner is a hectic one with many owners failing to follow basic estate planning and business law practices.
For example, did you name someone as an heir who is no longer in favor with you or—worse yet—has died? Who should get what they would have gotten? Are there now new people in your life—be they family members or not—whom you might wish to share in what you may have?
One problem that frequently stems from the inheritance process is fractured relationships between siblings. Unfortunately, the common denominator in many of these situations is the parents’ estate plan.