On November 29, I wrote a blog post about 3 Connecticut wealth managers winning $254 million in the Powerball lottery. At the time, I found it curious that all three of them were accepting the prize through a trust, known as the Putnam Avenue Family Trust. I speculated that the “Putnam Avenue Family Trust is… Read More
Update: Connecticut Lottery Winners Give $1 Million to Veterans’ Organizations
I have previously written about the already rich Connecticut money managers who won $254 Million in the Powerball Lottery, and joined in the speculation as to whether or not there was a hidden fourth winner. I’m still not entirely sure as to why they chose to accept their winnings in a single trust, but I’m… Read More
Florida Intestacy Law Changing On October 1, 2011 – Or, “Hey look, I drew a picture!”
Estate planning attorneys love to beat you over the head with the fact that you need a will. It’s one of our favorite pastimes, after late night readings of the latest generation skipping transfer tax regulations. But what happens if you die without a will? That is what’s known as intestacy. If you die intestate,… Read More
I Did a Webinar on Estate Planning for Digital Assets and Online Accounts
Today (July 27, 2011), I was part of a panel that presented an online webinar, “Estate Planning for Digital Assets and Online Financial Accounts.” The materials can be downloaded for free from here.
USA Today: How to leave stocks, bonds, real estate, or small business to your heirs
There’s a good story in USA Today today on estate planning and the estate tax entitled, How to leave stocks, bonds, real estate, or small businesses to your heirs. Like most USA Today articles, it takes complicated concepts and puts them into simple terms, including adequate, albeit brief, explantations of the annual exclusion, carry over… Read More
Why I Don’t Like Codicils
I was talking to someone the other day who wanted to change their Will, which was not originally drafted by me, and asked me if I would do a a codicil for them. I told them no. While I would be happy to draft a new will from scratch, I don’t do codicils to wills… Read More
Back to Basics: The Four Estate Planning Documents that Everyone Needs
Sometimes, posts on law blaws can get a little bit esoteric. Every now and then I think it’s useful to go back to the beginning, and set forth the documents that comprise a basic estate plan. Every single adult should have these in place, regardless of age, marital status, wealth, and whether or not they… Read More
Having Documents is Important. So is Remembering Where You Put them.
Last week I got a frightening phone call. It was the hospital emergency room calling, telling me that my grandmother was there. I won’t go into any further details out of respect for her privacy, except to say that she is fine and was discharged the same day. But it was a frightening call nonetheless. Before… Read More
Always Check the Deed, and Never Trust Title Companies
I have new clients, a same-sex couple. When interviewing them about their assets, they told me that they own their home as joint tenants with rights of survivorship (JTROS), and not as tenants-in-common (TIC). In brief, the difference between the two are as follows. If two people own property as JTROS, then upon the death… Read More
I don’t do “simple” wills. In fact, I don’t sell wills. I sell advice.
Miami criminal defense attorney Brian Tannebaum recently wrote a post on his blog entitled, “Do People Who Aren’t Hungry Go to Restaurants?” In his post he states that clients are often shopping for the cheapest lawyer, and recently, people have been contacting him and telling him that they aren’t even sure if they want to… Read More
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