Wills

News & Analysis as of

Are You Still Partying Like It’s 1999?

Most of us prefer to do those things that are fun and tend to procrastinate as to things that are the more mundane and that are not so interesting or exciting. Does that describe you?...more

Planning for the $5-$10 Million Couple: Portability or Credit Shelter?

In 2009, each individual had a $3.5 million estate tax exemption. If a married individual had assets over $3.5 million, without careful planning, those assets in excess of $3.5 million would fall subject to a 45% estate tax....more

Four Lessons Learned from Prince’s Estate (So Far)

Several of the events surrounding the initial administration of Prince’s estate provide lessons applicable to all estate plans, not just celebrity estate plans. If You Don’t Have an Estate Plan, the State Will Write...more

Recent Changes in Testamentary Capacity Rules

Estate planners and litigators face new challenges in light of recent developments in case law and statutory changes affecting the law of testamentary capacity. Gone are the simple rules that estate planners have used for...more

Estate Planning Litigation Attorney | When a Will May Not be the Way

We read in the Bible the parable of a rich man who had the problem of figuring out what to do with all of the goods he had accumulated. He determined to build larger barns to store all that he had. However, God told the man...more

5 Reasons Not to Put off Your Estate Planning

As the tabloids reveal that Prince died without a Will, and his family heads to court to divvy up the estate, here are five reasons you should make a thorough inventory of your assets and set up an estate plan now...more

Forget That Prince Had No Will, What About the Estate Tax Problems?

There has been a fair amount of buzz in the days after Prince’s death about his estate plan, whether he has a Will, whether he did or did not do any planning. Time will see this out. Prince’s heirs at law appear at this time...more

Four Steps to Take Right After an Alzheimer's Diagnosis

If you or a loved one has been diagnosed with Alzheimer's disease, it is important to start planning immediately. There are several essential documents to help you once you become incapacitated, but if you don't already have...more

Trusts and Estates Group News: Estate Planning Enters the Digital Age

One reality of modern life is our increasing reliance on digital information and services. It’s difficult to take and then order prints of photographs, accumulate travel rewards, book travel, sort through financial records,...more

Recent Changes in Estate Planning Laws May be Cause for Review of Your Estate Plan

Recent change in tax laws have many people rethinking their estate plans. Also, changes in the normal course of life make it a good idea for persons with estates that range from small to large to review wills, trusts, powers...more

Who Gets the Little Red Corvette? We’ll Never Know. The Importance of Having a Will.

Prince was not the first famous person to die without a Will. Others who died intestate include: Abraham Lincoln, Ulysses S. Grant, Howard Hughes, Martin Luther King, Jr., Sonny Bono and Pablo Picasso. Dying intestate is...more

Lack of a Will Could Mean Chaos for Prince's Estate

The famed recording artist Prince died leaving an unknown fortune and possibly no will or estate plan to dictate what to do with that fortune. Prince's sister, Tyka Nelson, told the probate court in the Minnesota county where...more

Estate Planning, Wills and Trusts: Importance of Considering the Internet and “Digital Assets” in Estate Planning

“Forgot your ID or password?” Everyone using the Internet has probably been asked and answered “Yes” to this question. That usually means having to take the time to answer more questions or search for...more

3 Strange Things About Prince’s Estate

There are several unusual factors at play in the drama that is unfolding surrounding Prince’s estate. This blog post discusses them and offers some tips so that you can hopefully avoid a similar situation....more

Tax Law Blog: Prince's Estate Plan (or lack thereof)

News sources are reporting that court documents filed last week indicate Prince died intestate, meaning he did not have a will. His sister filed the paperwork, stating to her knowledge he did not have a will and requesting...more

Prince: Is His Legacy Really Untold?

As we’ve all seen in the news, musician Prince passed away on April 21, 2016 at the age of 57. According to news sources, on April 26, just five days later, one of Prince’s six siblings, his sister Tyka Nelson, filed...more

Party Over, Oops Out of Time…The Perils of Dying Intestate

I was very saddened to hear of the passing of recording artist Prince on April 21, 2016. As I watched my social media accounts surge with tributes and song lyrics, I allowed myself to reminisce and feel nostalgic about the...more

Prince: The Lost Legacy of an Estate Plan Untold

You may not have produced over 30 albums, accrued over $300 million and an equivalent amount of fans as Prince, but, like the recent pop star, you too have a legacy that could impact many individuals around you. The term...more

"New Connecticut Laws Limit Transfer Taxes for Some Decedents, Increase Probate Fees for Most Estates"

Connecticut has implemented changes to its transfer tax and probate laws that affect nearly every decedent leaving even a modest estate via will or nonprobate transfer (such as a revocable trust). A new $20 million cap for...more

Family Planning

Well thought out and prepared estate planning is important for many reasons. Some reasons are obvious, such as tax planning and making sure your assets go where you want them to go; others are not. These less obvious...more

Estate Planning Pitfall - Your college-age child doesn’t have an estate plan

In addition to essentials such as clothing, toiletries, bedding and a laptop, students heading off to college in the fall also should “pack” all the necessary financial and medical documents. This brief article details...more

Court Holds That Will Did Not Revoke Inter Vivos Trust

In Gordon v. Gordon, a man and his wife executed a revocable trust agreement and began to fund the trust. No. 11-14-00086-CV, 2016 Tex. App. LEXIS 3357 (Tex. App.—Eastland March 31, 2016, no pet. history). The couple later...more

Have you addressed elderly parents in your estate plan?

Typically, an estate plan includes accommodations for one’s spouse, children, grandchildren and even future generations. But some members of the family can be overlooked, such as parents or in-laws. This article offers a...more

Insight on Estate Planning - April/May 2016

Have you addressed elderly parents in your estate plan? Typically, an estate plan includes accommodations for your spouse, children, grandchildren and even future generations. But some members of the family can be...more

When is a Will Not a Will? Court Determines that “Will” Was Not a Valid Will or a Valid Gift Deed and that Decedent Later Lacked...

In Lemus v. Aguilar, relatives fought over ownership of a decedent’s home. No. 04-14-00609-CV, 2016 Tex. App. LEXIS 2685 (Tex. App.—San Antonio Mar. 16, 2016, no pet. h.). ...more

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