7 Pets That Inherited Fortunes

Pets are often a big part of our families. In fact, some people refer to themselves as pet parents or speak of their pets as if they were their children. It’s important to care for our animal friends, and this is true even after we have passed on. Some people set up pet trust while others name their devoted pets as beneficiaries in their Wills. Seven lucky pets that inherited fortunes continued to live a good life Read More

What Happens to My Social Media After I Die?

Social media has become part of the very fabric of our society. Through our online accounts, we share personal moments, reconnect with loved ones and friends, and often create a kind of digital legacy. Instead of boxes of love letters and ancient photographs our parents and grandparents kept, we now have posts on Facebook and digital pics of everyday life on Instagram. If you have open and active social media Read More

Aretha Franklin’s Estate Dilemma

In her long and illustrious career, Aretha Franklin hit many milestones:  first female artist inducted into the Rock and Roll Hall of Fame, winner of 18 Grammys and a host of chart-topping albums and singles. When she passed away on August 16, 2018, she was added to the long list of celebrities who failed to leave an estate plan. With an estate estimated to be worth tens of millions of dollars, it’s difficult to Read More

Electronic Wills Revisited

In a previous blog, we discussed Florida’s electronic wills law. Though passed by the legislature, it was vetoed by Governor Scott. At the time, Nevada was the only state that permitted Wills to be in electronic form. Some important changes have happened since the previous blog article was published. First, let’s look at why Governor Scott vetoed the previous bill. Reasons for the Veto Governor Scott’s biggest Read More

Do You Know the Difference Between a Domicile and a Residence?

Nuances can be important. Two things can be similar but have subtle yet meaningful differences. For example, many people find it hard to understand the difference between a domicile and a residence. After all, both terms deal with where someone lives. However, choosing your domicile may impact your life significantly. Understanding the Terms Residence is a place you live for a time. It could be a summer hideaway, a Read More

Celebrity Estate Planning Mistakes: Sonny Bono

Sonny Bono was probably most famous for the song he sang with Cher, his second wife – I Got You Babe. However, he also found success as a songwriter, television star, restauranteur, and politician. Mr. Bono also committed a serious celebrity estate planning mistake. His Life Born in Detroit, Michigan, Salvatore “Sonny” Bono and his family moved to California when Sonny was a young child. Mr. Bono became a Read More

Bitcoins: Will They Be Lost if You Don’t Have a Plan?

It sometimes seems we’ve been invaded by technology. From books to entertainment to education, digital is the way to go. In fact, even our wallets have been affected. Cryptocurrencies like bitcoin, though somewhat controversial, are becoming more commonplace. Aside from the digital aspect of bitcoins, you need to remember that they are an asset, potentially an estate asset. As such, you’ll need to include bitcoins or Read More

$11 Million Reasons to Review Your Estate Planning

It’s important to keep our estate plans current. Experiencing a major life event, like a birth or death, may affect some or all of your estate planning documents. When laws change, your plans may need some attention also. The tax reform that became law in December 2017 will probably affect your income tax strategies. Deductions you once counted on may have been eliminated, decreased, or increased. It also affects Read More

Tax Reform and Your Vacation Home

The tax deduction for mortgage interest has long been a favorite of American taxpayers. After all, home and property ownership are linchpins of the American Dream. The new tax reform law, however, contains provisions regarding the mortgage interest deduction that may affect Americans who own, or hope to own, a vacation home. Before the 2017 tax reform law, home owners were permitted to deduct interest for Read More