Our readers may not be aware of it, but everybody has an estate plan, whether they want it or not. Did you know that? That's right. If you choose not to work with an attorney to get your affairs in order, you still have an estate plan provided by the state. That plan...
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Ridgewood Estate Planning Blog
Thomas Kinkade’s late girlfriend faces uphill battle in will contest
On Behalf of The Manna Helmy Law Group | Aug 24, 2012 | Probate
In a previous post, we wrote about the death of Thomas Kinkade earlier this year. As we noted, the 54-year-old painter died of accidental alcohol and Valium overdose, leaving behind over $66 million. Not long after his death, his estranged wife of 30 years and his...
Business owners should consider making gifts before end of year
On Behalf of The Manna Helmy Law Group | Aug 22, 2012 | Estate Planning
In our last post, we spoke about the importance of reviewing one's estate plan periodically to ensure it keeps up with current law and continues to serve one's needs. We named five different events that should prompt the review of one's estate plan. A recent article...
Estate plan should be review upon occurrence of important events
On Behalf of The Manna Helmy Law Group | Aug 14, 2012 | Estate Planning
While many people know, at least in theory, the value of getting estate planning documents in place, even fewer people understand the importance of ongoing estate planning. Good estate planning is not a one-time event, but an ongoing process. Decisions made in the...
Advantages of setting up asset protection trusts in Alaska, P.1
On Behalf of The Manna Helmy Law Group | Aug 10, 2012 | Asset Protection
Self-settled trusts, or asset protection trusts, are an important tool to be aware of when going through the estate planning process. In self-settled trusts, the grantor and the beneficiary are the same person.In these arrangements, the trust assets are protected from...
California case causing estate planning attorneys to change approach to trust formulas, P.2
On Behalf of The Manna Helmy Law Group | Aug 8, 2012 | Inheritance And Estate Tax
In our previous post, we began looking at a case in which a court ruled to be invalid a trust amendment executed shortly before the death of a woman. That trust setup, as we noted, contained a formula clause intended to utilize the full exclusion amount and minimize...
California case causing estate planning attorneys to change approach to trust formulas, P.1
On Behalf of The Manna Helmy Law Group | Aug 1, 2012 | Inheritance And Estate Tax
A recent probate case out of California demonstrates the importance of foresight in estate planning. In that case, a couple had set up a trust in order to minimize estate taxes, and made use of a device called a formula clause, which allows typically divided the...
Estate planning increasingly addressing digital assets
On Behalf of The Manna Helmy Law Group | Jul 31, 2012 | Estate Planning
The practice of estate planning is continually changing as people's needs continue to change. One area where this is evident is in the growing importance of accounting for digital assets in one's estate planning documents. Digital or virtual assets are those which are...
Jackson matriarch temporarily loses custody of Michael’s children amidst will dispute
On Behalf of The Manna Helmy Law Group | Jul 27, 2012 | Probate, Wills
On Wednesday, Michael Jackson's three children were assigned a new guardian as part of a growing power struggle over the late entertainer's multimillion-dollar estate. The new guardian, Tito Jackson, was appointed at his request after a week of conflicting reports...
Irrevocable life insurance trusts: a useful estate planning tool
On Behalf of The Manna Helmy Law Group | Jul 26, 2012 | Estate Planning, Trusts
Trusts can be greatly useful tools when it comes to estate planning. Part of making use of trusts for estate planning is determining what financial vehicles will be used to fund them. One option is to make use of life insurance for this purpose. One particular option...