There are many myths about wills, trust and other legal documents, and what is appropriate for a particular family. Below are some of the most common myths and facts about estate planning: MYTH: I am young and don’t have a lot of money, so I don’t need a will. Wills are only for older and…
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New Orleans — Former Covington resident Gail Sheffield was held dear by friends for her sense of humor, her modesty and her brilliance — “She was Google before there was Google’’ long-time friend Julia Sims said. But what Sheffield held most dear was feral cats. They were her passion in life, Sims said, and she…
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The first step in creating a trust is to ask yourself what you want to accomplish. The whole idea of setting up a trust is to provide for your loved ones after your death. But how do you ensure the trust doesn’t run out of money? The keys, financial planners say, lie in setting up…
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An appellate court judge has thrown out a Florida mogul’s adult adoption of his 42-year-old girlfriend, saying that his failure to notify his ex-wife about the scheme was a ‘fraud.’ Third District Court of Appeal Senior Judge Alan R. Schwartz wrote that the adoption of a ‘paramour’ or lover has no purpose and cannot be…
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Life insurance is one of those financial products that can give people the heebie-jeebies. It can sound confusing and complicated, and it involves thinking about a very scary proposition: death. But life insurance really isn’t as frightening or complex as it seems. It’s actually a fantastically useful and flexible estate-planning tool that can provide income-tax-free…
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When you look at your life, you probably have multiple sources of pride: a beautiful family, a successful career or business, and an inviting home. Whatever it is that makes you proud, protecting it is vital to ensure its future success. Your home and business probably have insurance, but what can you do to protect…
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By Abigail Neal, Arizona Wills Lawyer Question: Is a handwritten Will valid? Answer: Possibly. Under Arizona law, some Wills may be valid if they are handwritten. See A.R.S. § 14-2503. A handwritten Will is also called a “holographic” Will. A holographic Will is valid under the following circumstances: 1. The material provisions must be in…
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The taxman is coming. The late James Gandolfini left his heirs an estimated $70 million. However, because of poor estate planning, his heirs will owe a more than $30 million tax bill. What did Gandolfini do wrong? In his will he left 80% of his estate to his sisters and nine month old daughter. This…
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Estate planning is a complicated area of law. As a result, there are many myths about the law that can be harmful to you and your loved ones. Here are some common estate planning myths and facts: Myth: Probate is not required if I have a Will and my assets can be transferred immediately under…
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