For anyone over the age of about 40, the name Leona Helmsley should ring a bell. For anyone not familiar with the name, she was a New York hotel heiress who was known as the “Queen of Mean.” Apparently though, Helmsley did have a soft spot for the pooch she bought after her husband died in 1997 since she left him a pet trust worth a staggering $12 million upon her death. Helmsley named the little Maltese “Trouble”--a name that may have sealed his destiny. Not only did Helmsley leave the little … [Read more...] about Trouble — The Leona Helmsley Pet Trust Story
Tips for Finding An Estate Planning Attorney
Your estate plan not only distributes your assets upon your death, but is your opportunity to make sure that your loved ones are taken care of in the event that you suffer an untimely death. Given what is potentially riding on how well your estate plan has been created, it only makes sense to retain the best estate planning attorney possible to assist you in the creation of your plan. Of course, the final decision can only be made by you, but there are some tips that may help you find the best … [Read more...] about Tips for Finding An Estate Planning Attorney
The Perfect Holiday Present for Your Pet – A Pet Trust
Whether your family pet is a pooch, a cat or a pig, you may be wondering what to get your beloved family pet for the holidays. How about a pet trust? According to the U.S. Humane Society, Americans own more than 150 million cats and dogs. For most of those pet owners, their pet is part of the family. If you feel that way about your pet, make sure that he or she will be well cared for even after your death by creating a pet trust. Based on some of the sensationalist news accounts you have heard … [Read more...] about The Perfect Holiday Present for Your Pet – A Pet Trust
What Happens If My Spouse Left Me Nothing in His/Her Last Will and Testament?
The loss of a spouse can be an extremely emotional time. Along with the grief you likely feel from the loss you may also be concerned about how you will survive financially after the death. Just when you think it can’t get worse, what happens if you find out that your spouse left you nothing under the terms of his/her Last Will and Testament? The good news is that you may be able to take against the Will. Unfortunately, this scenario happens more often than you may think. Most often, it occurs … [Read more...] about What Happens If My Spouse Left Me Nothing in His/Her Last Will and Testament?
The High Cost of a Will Contest
When you die, certain individuals may have the legal right to contest your Last Will and Testament. A Will contest must be based on allegations that the Will itself is invalid. Using a “do-it-yourself” Will form found in the internet or at a local stationary store increases the likelihood of a Will contest being filed after your death simply because those forms are frequently not executed properly according to state law or are otherwise deficient based on the laws in the state where you live. If … [Read more...] about The High Cost of a Will Contest
Scam Email Looking for Overnight Spouses for Will Hoax
Most of us have probably received some scam email at one time or another asking us for money. The “Nigerian Prince Scam” was a popular one for many years and is still running its course. These scam email solicitations typically ask for advance fees, wire transfers or funds to take care of emergencies. In return for your generous donation, the sender promises to return your fees and provide compensation for your time and generosity. Unfortunately, many become unsuspecting victims of these email … [Read more...] about Scam Email Looking for Overnight Spouses for Will Hoax
Using a Qualified Terminable Interest in Property Trust for Your Blended Family
Creating an estate plan for a blended family requires careful planning and consideration. If you have children from a previous relationship, you must create a plan that will both provide for your current spouse and retain assets for your children once your current spouse dies. One estate planning tool that is tailor made for just this purpose if the Qualified Terminable Interest in Property, or QTIP, trust. Talk to your estate planning attorney to decide if a QTIP trust is right for your estate … [Read more...] about Using a Qualified Terminable Interest in Property Trust for Your Blended Family
How to Keep Your Beloved Pet from Ending Up in A Shelter
Each year, millions of older Americans seek the companionship that a pet offers when they lose a spouse. A pet can give you unconditional love and affection while you live out your golden years. Your pet asks for very little in return. Love, affection, food, and shelter. Don’t you owe it to your pet to make sure that he or she will not end up in a shelter, or worse, when you die? Sadly, many of the pets that people own end up in a shelter when their owner dies. A pet may not require much, but … [Read more...] about How to Keep Your Beloved Pet from Ending Up in A Shelter
What You Should Know about A Funeral Trust
Estate planning typically makes use of numerous estate planning tools. Although your Last Will and Testament should be the foundation of your estate plan, you may also make use of other tools such as a funeral trust. If you are unfamiliar with the concept of a funeral trust, understanding some of the basics can help you decide whether including one in your estate plan is right for you. A funeral trust requires the same basic elements as any other trust for creation--a trustor, a trustee, a … [Read more...] about What You Should Know about A Funeral Trust
How to Use a Specialized Trust — The Gun Trust Example
Your estate plan should be as complex or as simple as your estate is, but in all cases it should take advantage of the tools that are right for the job. All estates plans should start with a Last Will and Testament; however, after that the estate planning tools you use will depend on your goals and needs. Trusts are another popular estate planning tool. In case you are under the impression that trusts are only for people with vast estates, think again. Specialized trusts have developed over the … [Read more...] about How to Use a Specialized Trust — The Gun Trust Example
