The greatest wealth transfer in history is underway, according to a new report. A study from the Boston College Center on Wealth and Philanthropy projects that $59 trillion is expected to be passed down to heirs, charities and taxes between 2007 and 2061. The study said heirs will receive $36 trillion over that period, while…
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The 2014 Oscars are complete. Trial & Heirs looks back at past Oscar winners like Philip Seymour Hoffman, Elizabeth Taylor, Heath Ledger, Frank Sinatra, and Marlon Brando. Their estates illustrate important estate planning lessons that everyone can benefit from — even those who aren’t walking the red carpet at the Oscars. 1. Philip Seymour Hoffman Estate…
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Ann Aldrich used an “E-Z Legal Form” when she made out her will in 2004, a decision that proved to be a good choice for two nieces who cited the document’s lack of a residuary clause. In a decision issued last week, the Florida Supreme Court ruled for the nieces, though they weren’t mentioned in…
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Many people only starting thinking about estate planning once they reach retirement age. After all, the “normal” progression of life is to get out of school, get a job, get married, have kids, get your kids through college, retire, become grandparents, enjoy life…and then, after a long and fulfilling life, we know that we will…
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The Paul Walker estate is one that can be used as a teaching lesson for many of us. Here’s why: Paul William Walker IV was the star of the Fast & Furious movies, until his unfortunate — and ironic — death in a high-speed car accident on November 30, 2013. The car, in which Walker…
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Now that the holidays have wound down and life is returning to normal, it’s time to get down to the business of those New Year’s resolutions. Most years it’s the same: have a better diet, exercise more, save more money and finally do your estate and financial planning. Getting your estate and financial plan in…
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If you already have an estate plan, congratulations! You have taken a big step to protecting yourself and your family. However, many people make the unfortunate mistake of putting their estate plan in a drawer and forgetting about it. It is important to remember that an estate plan involves the most important things in your…
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Learn more about the fight of Nazi art loot to Jewish heirs below: American and Israeli officials have turned up the pressure on German authorities, to hand over a billion euros worth of art to Jewish heirs, after valuable pieces were seized by the Nazis during World War II. Government authorities from the US and…
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Estate planning can become a bit tricky if your spouse is not a U.S. citizen. Why? For estate tax purposes, U.S. citizens have a huge tax advantage over non-citizens. Your estate will have to pay federal estate taxes when you die if the net value (assets minus debts) is more than the exempt amount at…
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Happy Thanksgiving from Neal Law Firm! We hope you have a wonderful day with your families.
George Washington’s Last Will and Testament, 9 July 1799 [Mount Vernon, 9 July 1799] In the name of God amen I George Washington of Mount Vernon—a citizen of the United States, and lately President of the same, do make, ordain and declare this Instrument; which is written with my own hand and every page thereof…
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What is a Power of Attorney? A Power of Attorney (“POA”) is a document someone signs (the “principal”) giving someone else (the “agent”) authority to do things the principal could have done if he or she was able. There are two types of Power of Attorneys that people think about. First is the Healthcare Power…
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