A California man had been told that his son had passed away. He spent a lot of money on the son's funeral and was surprised when he talked to his son on the phone less than two weeks later. Frank Kerrigan, an elderly California man, knew that his son had problems. He had a lot of problems. His son suffered from mental illness and was homeless. It probably was not that big of a surprise to Kerrigan when he received a phone call from the Orange County,
One of the reasons people often cite for preferring to use a trust instead of a will is the possibility of a family battle in probate court over a will. Trusts do not necessarily solve the issue of families feuding over estates. Stories about the families of wealthy or famous people fighting over estates in probate court are easy to find. In any given month, the media is likely to report on several such battles, many of which have been going on for years. Most of the time the families are fi...
Most estates do not need to worry about figuring out how much celebrity memorabilia is worth. For the few estates that do, it is often very challenging. When most of us pass away, our estates will have little difficulty determining how much our personal possessions are worth. This is true for both the very poor and the very rich. If we own a necklace, appraisers and jewelers can determine the market price of the necklace in short order and that price is normally fairly reliable. On the other...
Married couples today that have dual incomes and no children often think that they do not need to do any estate planning. They are wrong. Estate planning has traditionally been thought to primarily serve two important interests: 1) It was a way for parents to provide for the well-being of their children, particularly any minor children, in case something happened to the parents; and 2) It was also thought of as a way to provide for a spouse who did not have an income of his or her own. Toda...
A court in Germany has ruled against a mother who was attempting to gain access to her deceased teenage daughter's Facebook page. For estate administrators and grieving families, Facebook has become one of the more notorious technology companies to deal with. When someone passes away, Facebook turns their Facebook Page into a memorial on which friends and family are allowed to post messages. However, Facebook refuses to allow anyone access to account login information so something else can be...
Over the objections of the governor, the Minnesota legislature voted to raise the state's estate tax exemption. Despite the objections, the governor declined to exercise a veto. A trend in recent years has been for state governments to reduce or eliminate their estate taxes. The reason for this trend is in part ideological and in part not wanting wealthy people to leave the state after they retire for states that do not have an estate tax. Only 18 states and the District of Columbia currently...
In a controversial move, the government of Washington D.C. has decided to continue its previous plans to reduce its estate tax. The City of Washington D.C. used to have one of the strictest estate taxes in the country. Only $1 million of estate assets were exempted from the tax. State governments have recently followed a trend of reducing their estate taxes, in part out of fear that older wealthy people will move to other states that do not have the tax at all. While not a state, the District ...
The Texas Supreme Court recently had the opportunity to resolve a lower court split and determine whether or not a cause of action exists in Texas for tortious interference with inheritance rights. The court declined to do so. If someone improperly convinces another person to change his or her will, then the people who are harmed as a result need legal remedies to undo that harm. For example, if an unscrupulous attorney convinces an elderly parent to change his or her estate plan to exclude t...
When the Baby Boomers start passing away in greater numbers, the single greatest transfer of wealth in world history will occur, but the benefit might not all go to their heirs. The Baby Boomer generation has in general amassed more wealth than any previous generation. Since they cannot live forever and possibly may not spend everything they have, much of that wealth will be inherited by their children and grandchildren. At least that is where most affluent Baby Boomers hope it will go. The p...
The debate around assisted suicide often centers on allowing people to pass away when they choose so they can avoid living in pain. However, that might not always be the only reason for assisted suicide. Physician assisted suicide is one of the most controversial issues in elder law. Many people believe it is wrong to end a human life other than by natural means, even if that person is in great pain and wishes for death. Others believe that people should be able to make the decision when and...
