Law Brief: Alexis Gruttadauria and Rich Schoenstein Discuss Why You Need an Estate Plan
Dying without a valid will in place is never a good idea. In the absence of your testamentary intent your assets are left to the whims of the current intestacy laws of the state in which you reside. In Maryland, those laws...more
The period after a spouse passes away is an emotional time of mourning. However, there are a handful of estate planning adjustments that you should make to protect your estate under the new conditions....more
What happens when a party dies in the middle of divorce? Under the law, the divorce action abates and the matter is over. In many cases, that is to the benefit of the surviving spouse because, in most cases, they would...more
As estate planning attorneys, a question that often arises with new and prospective clients is, “What happens if I die without a will?” The short answer is this: if you die without a valid will in Massachusetts, state law...more
Back on July 26 we wrote about how trusts have become a new territory within the divorce landscape. At the time the press was just starting to write about California Senator Diane Feinstein’s troubles with the trust her...more
Here’s another reason (uno más in Spanish) to create and properly execute a will. If your spouse or other trusted designee lives out of the country when you die, he or she won’t be eligible to administer your California...more
Forgive the title but this is written amidst the Eagles-Vikings game and on the same date as Queen Elizabeth’s funeral. Commentators noted that the Queen’s final event was more than a generation in the planning and was...more
In general, estate planning benefits not only the principal’s life, but also the lives of their family members and agents. Prior planning includes wills, trusts, health care proxies, advanced health care directives and...more
Every U.S. citizen may gift, during life or at death, assets to his or her children free of federal estate or gift tax up to an aggregate amount – frequently called the “exemption amount.” The exemption amount in 2021 is...more
Can a California will sever a joint tenancy such that the decedent’s interest in real property passes per will’s terms instead of vesting in the surviving joint tenant(s)? Additionally, when a general partnership dissolves...more
In Moore v. Estate of Moore, a decedent’s wife claimed that she had an interest in an oil and gas lease formerly owned by her deceased husband. No. 07-20-00019-CV, 2021 Tex. App. LEXIS 6142 (Tex. App.—Amarillo July 30, 2021,...more
The death of a loved one should be a time for a family to come together. As a trust and estate litigator, unfortunately, I often see families fall apart. Every family's situation is different, but certain issues seem to...more
It happens more often than you think: A surviving spouse is unknowingly excised from their predeceased spouse’s last will and testament to ostensibly be left with nothing. For instance, The Cars front man, Ric Ocasek, removed...more
Many California trusts confer a lifetime right to income on a person (often the surviving spouse) with the remainder passing to designated survivors upon the income beneficiary’s death. When the income beneficiary dies, is it...more
Multiple news outlets have reported that a secret Will of the late broadcast legend, Larry King, has been found. According to the reports, this secret Will is handwritten and states: 10/17/19- This is my Last Will and...more
Trusts and Estates Attorney Alexis Gruttadauria joins host and Litigation Partner Rich Schoenstein to discuss “Why You Need an Estate Plan” on the latest episode of Law Brief. Lexi and Rich delve into the legal disposition of...more
On September 15, 2019, Ric Ocasek, singer, songwriter, and guitarist of The Cars, died in his Manhattan residence. He was found that morning by his wife, Paulina Porizkova, a supermodel and celebrity in her own right, as she...more
It seems like our world becomes more digital each day. We can manage almost every aspect of our lives online. But, unless you have updated your estate plan in the last few years, chances are good that your estate planning...more
Many California financial elder abuse cases we see involve caregivers. While the vast majority are honest, a caregiver who spends many hours alone with a vulnerable client has a unique opportunity to exploit the situation. A...more
In Ferreira v. Butler, a husband and wife divorced, and the husband married a second wife. No. 17-0901, 2019 Tex. LEXIS 375 (Tex. April 12, 2019). The second wife died, and the husband never probated her will, which left...more
An estate planning rule of thumb is to review (and, if necessary, revise) one’s estate plan in light of major life events. Such events include a marriage, birth of a child and a divorce. A second marriage also calls for an...more
In Sullivan v. Hatchett, a husband executed a will giving his wife a life estate in his property. No. 07-17-00296-CV, 2019 Tex. App. LEXIS 980 (Tex. App.—Amarillo February 11, 2019, no pet. history)....more
The death of a loved one or close friend is a traumatic experience. In addition to the emotional anguish, those who are charged with dealing with the decedent’s personal and financial affairs following death are often left...more
People don’t like to think about their wills—even people with an awful lot of property to pass on. Aretha Franklin and Prince are two wealthy celebrities who died without a will—and the former knew she was sick with cancer...more
No estate plan is complete without a will. But what provisions should be included in it? This article explores the basic provisions of a will and how it should address estate taxes and specific bequests. A sidebar discusses...more