Estate Planning

Find newsworthy stories on estate planning—including poor estate planning, and issues and tips for last will and testaments, living wills and living trusts.

Jul 26, 2011

Living wills will be put in place for major financial institutions this summer when the Federal Reserve installs new guidelines.

Ben Bernanke, Chairman of the Federal Reserve, is set to appear before the Senate Committee on Banking, Housing and Urban Affairs where he will discuss the Dodd-Frank legislation on financial reform, according to The Street.

The Federal Reserve is teaming with the Federal Deposit Insurance Corp.

Jul 18, 2011

Underscoring the importance of discussing your wishes for end-of-life care and other advanced medical directives with your attorney and those closest to you, Washington State has discontinued its online living will registry due to budget cuts.

Washington's living will registry began in 2007.

Jul 15, 2011

The University of Texas System Board of Regents has filed a lawsuit against actor Ryan O'Neal, alleging an Andy Warhol silkscreen portrait of late actress Farrah Fawcett in O'Neal's possession belongs to the UT System under provisions of Fawcett's living trust.

The portrait in question is one of two Warhol created and gifted to Fawcett, who bequeathed her artwork to the University of Texas in a living trust she established prior to her death in 2009. One of the two silkscreens now hangs in the UT-run Blanton Museum of Art in Austin.

Jul 15, 2011

The case of Irene Kuzontkoski, a Northampton, Massachussetts, woman who bequeathed all her assets to a local Catholic parish, might end up illustrating the importance of having a trusted executor to carry out one's last will and testament, the Daily Hampshire Gazette reports.

According to the Gazette, Kuzontkoski's will specified all her assets were to be granted to St. Mary of the Assumption Church. But after she died in 2009, church officials announced the parish would close.

Jul 5, 2011

Living wills are typically obtained by individuals who are dealing with life-prolonging medical treatment and other issues they wish to have carried out should they become incapacitated. But a potential ruling by the Federal Deposit Insurance Corp. could force living wills on financial firms.

The resolution plans, or living wills, will give regulators of some of the largest U.S. financial firms a plan to follow in the event of another financial crisis.