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.

May 24, 2011

Former Maryland Governor William Schaefer died last month at the age of 89. His last will was filed in Baltimore County and contained the details on how to split up the remains of his $2.4 million estate, according to Baltimore News.

Schaefer left $500,000 and 25 percent of whatever was left in his estate to his longtime aide, Lainy LeBow-Sachs.

May 12, 2011

Many business owners have a lot on their plates these days, with the economy struggling and consumers barely beginning to spend again.

However, one thing that owners of family businesses should keep in mind is how to ensure that the company is passed on to one's children and ultimately stays in the family, reports the Naperville Sun.

According to the news source, living trusts are among the most common documents that business owners look to in order to successfully transfer the company to their family members.

May 11, 2011

The value of living wills and other end-of-life documents was the main topic of discussion at the recent "Issues Affecting the Elderly" conference held in Kentucky, reports the Richmond Register.

According to the news source, financial adviser Ron House, one of the speakers at the event, explained that living wills can be completed without the assistance of an attorney.

He said that living wills are critical because they help physicians and family members to decide what they want to happen to them later in life.

May 11, 2011

The last will and testament of former "Superman" actor Jackie Cooper reportedly includes a "poison pill" clause designed to prevent people from contesting it, according to TMZ.com.

The news source reports that the last will, which was filed in Los Angeles County Superior Court two days after Cooper died last week, left everything to his wife.

May 2, 2011

While the major function of a living will is to assert a person's wishes in case of a debilitating illness or injury, such a document can also be extremely important for one's family, reports the Appleton Post-Crescent.

According to the news provider, creating a living will is a considerate way to help a person's loved ones make crucial decisions under difficult circumstances.