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trusts
What is a no-contest clause and why is it added to a will or trust? In Latin it is known as an “in terrorem” clause, which means that the clause is inserted as a threat or warning to those beneficiaries of a will or trust who would seek to challenge the estate plan after death....
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After nearly a year in litigation, former Brooklyn DA Ken Thompson’s wife filed papers relinquishing all money and personal property left to her in her husband’s estate. Just who is Ken Thompson, and what went wrong after his death last October? Attorney Ken Thompson was Brooklyn’s first African American District Attorney. Last October he passed...
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Most of us will never need to know the ins and outs of the Criminal Court System, the Civil Court system, and maybe not even the family law system. But almost all of us will encounter Probate Law. Why? Because at some point, someone in your family or close circle of friends will die –...
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The simple answer: After you die. From a financial perspective, it is generally advantageous to gift property upon your death. However, when making a decision about how best to leave real property to your children there are several important factors to consider.  If you plan to keep living in the property, first and foremost is...
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While we always consider what will happen to our children when we are no longer there to care for them, our pets are potentially left just as vulnerable when we die.  Currently, under California law your dog or cat is viewed no differently than your car or your sofa.  Pets have no rights and no...
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WHITNEY HOUSTON, FLORENCE GRIFFITH JOYNER, HEATH LEDGER Earlier this year I wrote about the Celebrity Estate Planning Tragedies of Phillip Seymour Hoffman, Marlon Brando, Howard Hughes, James Brown, and James Gandolfini. Recent events and a few discoveries on my part have compelled me to add to that list of Celebrity Estate Planning Tragedies – and...
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Without a Will or Trust, the state gets to decide who will get your assets. In addition, the chances of a family fight are drastically increased. Even a basic, handwritten will can go a long way – and there’s only a few requirements to make it legally valid. So why do so many Americans put off...
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I recently had a client come in to do a Trust, in hopes that he could protect his assets from his wife, who he was in the process of divorcing. Unfortunately for him, California is a community property state – which means that everything earned or acquired during a marriage belongs 50% to each spouse....
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On June 25th, famed NY Times fashion photographer Bill Cunningham died at the age of 87. Cunningham is best known for his Times columns, On the Street and Evening Hours, which have been running for over 25 years.  Highly regarded by New York’s fashion elite, Vogue Editor in Chief Anna Wintour told the Times “we...
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Sumner Redstone is a media mogul and billionaire. He is 93 years old, purported to suffer from dementia, and an acting trustee of a trust containing 80% of the voting stock in CBS Corp. and Viacom. In other words, despite his apparent mental decline, he still has control of billions of dollars. He is also...
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I recently got a phone call from a very kind 93 year old man. He had read one of my articles, and he told me he was calling me because my article said to call if one has any questions or concerns. I was glad he called. While he didn’t have a case for me,...
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