The granddaughter of a wealthy widow said her family has been through what can only be described as a “bad Lifetime movie” after they were allegedly swindled out of the family fortune by a man who befriended the grandmother.
Striking the right balance between emotion and logic is often a tricky challenge when making decisions.
Wealth is a relative term.
In the first part of this post, we explained why federal regulators have issued rules to help surviving spouses and other heirs who wish to assume a mortgage after the mortgage holder dies.
In the age of the Internet, estate planning increasingly includes decisions about digital data that would have been inconceivable a generation ago.
Imagine you are one of two siblings, and your mother is nearing the end of her life. For a good portion of your life, you and your mother did not get along -- in fact, you barely spoke. But as time passed, you two realized that putting your differences aside was best for everyone. After your reconciliation, you and your mother enjoyed a few years of happiness. She soon passes away, and now its time to deal with her will.
A month ago, in our April 15 post, we wrote about Google's introduction of a dashboard to assist people with making decisions about what happens to their digital data after death. This could include designating someone to serve as "inactive account manager" - or, in more popular terms, a Google heir.
It sounds like something that would happen only in an old-fashioned board game. A long-last relative dies, leaving you a big bequest that solves all of your money problems.
Estate planning and administration are highly traditional areas of the law. This tradition reflects centuries of common law practice, along with modern statutes.