The rich and famous have access to the best lawyers in the country, so it always comes as a surprise when celebrities end up having error-ridden estate plans. Here are two recent examples of this:
If you have already have an estate plan in place, that’s great. It means you have taken the time out of your busy life to plan for something we would all rather not think about: our eventual death. However, if it has been a few years since you put your estate plan in place, it might be time to revisit it.
In an action that affects Massachusetts residents and citizens all across the country, Congress passed the American Tax Relief Act of 2012. Included in that law are provisions for transfer taxes or taxes on an estate.
In the first part of this post, we noted how easy it can be to overlook even the most basic estate planning steps. Even for a lawyer, such as the character of Matthew Crawley on "Downton Abbey," getting a proper will in place proved to be not at all straightforward.
“Walking the talk” is a current phrase for an age-old reality. It is all too easy, in the abstract, to say people should take a given action. It is often more difficult, however, to actually follow through and do so.
In the first part of this post on the basics of estate planning, we focused on the documents that people should put in place to provide structure and guidance for health care decisions. That guidance and structure is crucial in situations when someone is no longer able to make those decisions for themselves due to cognitive or other impairments.
With Game 5 of the World Series set for tonight, Red Sox fans in New England and across the nation will be turning their thoughts once again to the baseball diamond.
In recent years, Congressional action on esate taxes has focused on raising the exemption amount. The changes have increased the amount of assets that can be excluded from the federal estate tax. Individuals can now pass along up to $5.25 million without tax liability. For married couples, the amount is a hefty $10.5 million.
Estate planning and administration are highly traditional areas of the law. This tradition reflects centuries of common law practice, along with modern statutes.
Succession planning is important for any organization. But it is particularly important for small businesses - especially it is a family-run small business. In a small business owned or operated by a family, changes in the family structure can directly affect the business itself.