Sometimes you hear about an estate planning case that seems a bit bizarre, and this is certainly true when it comes to the case of the Robert Rauschenberg sculptural combine "Canyon." "Canyon" would be a very valuable work of art except for one thing: It can never be sold. The sculptural combine features a stuffed bald eagle. Due to federal regulations you cannot buy or sell a member of the species. This combine was the property of noted art dealer Ileana Sonnabend at the time of her death. … [Read more...] about Artistic Work Donated to NY MOMA to Settle Estate Tax Dispute
Hagman Legacy Includes Charitable Foundation
Giving something back to others is something to consider when you are contemplating your legacy. Any act of generosity is obviously going to be personally rewarding, and as you advance in age you may be all the more interested in doing something for others. From a financial perspective there can actually be some tax advantages that go along with certain acts of giving as well. This is something that you would want to discuss with a highly qualified estate planning attorney. Celebrities are … [Read more...] about Hagman Legacy Includes Charitable Foundation
Medi-Cal: Download Our Report to Get the Facts
You will often hear mention of the Medi-Cal program, which is a joint federal-state program that is ostensibly in place to provide access to health care to those who cannot afford it. In California, this program is called Medi-Cal. It does indeed assist people with little to no financial resources, but it is also the government program that is utilized by many seniors to pay for long-term care because Medicare will not pay for it. This is not just seniors who have been struggling financially … [Read more...] about Medi-Cal: Download Our Report to Get the Facts
Medicare Deductibles, Co-Payments, and Premiums Rising in 2013
There are people who are not that concerned about planning ahead for retirement. They assume that they will naturally accumulate resources over the years without actually trying. And they also feel a sense of comfort because they know that they will be eligible for Social Security and Medicare eventually. The above line of reasoning can result in some very challenging circumstances during the latter portion of your life. You have to understand the fact that Social Security is going to provide … [Read more...] about Medicare Deductibles, Co-Payments, and Premiums Rising in 2013
Sherman Hemsley Finally Buried in El Paso
The dispute over the late comedic actor Sherman Hemsley's estate has been dragging on for months now, and fortunately there has finally been a breakthrough. You may recall that the actor passed away back in July in El Paso, which is the city that he called home though he was originally from Philadelphia. His last will left everything to his longtime close friend Flora Enchinton. In addition to being named as sole heir in the document, she was also named as the executor of the Hemsley … [Read more...] about Sherman Hemsley Finally Buried in El Paso
Our Report Examines DIY Wills
There are many do-it-yourself projects that you may be able to take on successfully. Depending on your interests and your abilities, going the DIY route can actually be enjoyable as you spend time constructively. And of course, doing things for yourself can sometimes save you money. Of course, there are some things that are better left up to the experts. Estate planning would fall into this category. There are no shortage of websites on the Internet offering do-it-yourself legal documents. … [Read more...] about Our Report Examines DIY Wills
Be One of the “Lucky Ones”
When you look around as a working person who has seen his or her 70th birthday come and go you may view people who are your age who have retired as "lucky." There are indeed some senior citizens who have won lottery prizes, and perhaps there are those who have hit it big on the beach with their metal detectors. However, most people who are comfortable enough financially to enjoy their retirement years were by no means lucky. The difference between those who can retire with some modicum of … [Read more...] about Be One of the “Lucky Ones”
Senior Drivers Face Challenges
In our modern society driving is inherently necessary for many individuals. Of course, it is possible to use public transportation if you live in some areas, but when you become a senior citizen mobility and safety can be issues that come into play. So, it is difficult to advise an elder to start riding a bike or taking the bus. However, all of this results in a classic Catch-22. The fact is that your ability to drive safely will often wane as you start to reach an advanced age. In … [Read more...] about Senior Drivers Face Challenges
Pet Planning: Get All the Facts
Our pets are members of the family, and estate planning is all about making sure that your family is provided for in the event of your passing. Therefore, pet planning is part of the equation if you want to be comprehensively prepared for the future. Exactly how do you go about planning for a pet? Pets are notoriously poor money managers, and it's hard to determine exactly how much to leave behind for the pet's care if you were to find a caretaker and leave this individual a direct … [Read more...] about Pet Planning: Get All the Facts
Lengthy Probate Process Expected in Gibb Case
When you read about celebrity estate planning cases you can sometimes take away some instructive lessons. With this in mind, we would like to take a look at the limited but interesting information that has been made available about the Robin Gibb estate. Gibb was a singer with the popular group the Bee Gees. The group sold millions of records over a number of decades, and as a result Robin Gibb passed away with a considerable amount of wealth. According to the Daily Mail, the Gibb estate is … [Read more...] about Lengthy Probate Process Expected in Gibb Case
