In 2022, the 59-year-old was placed under temporary financial guardianship after her bank, Wells Fargo, claimed in a New York court that she was an ‘incapacitated person’ and the ‘victim of undue influence and financial exploitation,’ according to The Hollywood Reporter.
As an estate planning attorney, I frequently encounter clients uncertain about the distinctions between grantor and non-grantor trusts. These types of trusts are fundamental in estate planning, offering various benefits and implications, particularly in tax planning and asset management. This article will discuss the key differences between…
Living trusts avoid the costs and time associated with the probate process. They’re also private documents, unlike wills filed with courts. They can be more easily amended as circumstances change.
The story of musician and co-founder of the Beach Boys, Brian Wilson, and the need for his family to file for conservatorship is a reminder of the importance of early estate planning.
Learn the critical reasons why a will alone is insufficient for a comprehensive estate plan, and why incorporating trusts, beneficiary designations and incapacity planning is essential to ensure a seamless and protected transfer of your assets to your loved ones.
The most important part of your estate plan isn’t about taxes, investments, gifts, or other financial issues.
A living trust (also called a revocable trust or revocable living trust) can be beneficial to a much broader group of Americans than most people expect.
A highly successful estate-management strategy for avoiding inheritance disputes is to make a meticulously detailed and legally sound will.
A new federal law, the Corporate Transparency Act (CTA), effective Jan. 1, 2024, impacts almost all limited liability companies (LLCs) and small corporations in the United States. Businesses now have new reporting requirements annually, and these changes may lead to new challenges for small and family business owners. This article provides an overview of the new reporting requirements…
The federal gift, estate, and generation-skipping transfer (GST) tax exemptions and the annual exclusion from gift tax are historically high due to a temporary increase under the Tax Cuts and Jobs Act.
Copyright © IMS. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. Some artwork provided under license agreement.
