Estate administration can be seamless with the right estate planning. With the recent deaths of rock stars David Bowie and Glenn Frey, of the Eagles and actor Alan Rickman, people may be wondering who will be inheriting the fortunes amassed during a lifetime of albums, performances and movies.
A New Year means new goals. Besides drinking less and working out more, most Americans do not consider updating their estate planning documents after the first of January rolls around. While this may seem more dreadful than the elliptical, it doesn't have to be. If you know the important items and provisions of the documents, you can skim through without revising them in their entirety. Here are some key points to keep in mind while reviewing:
Why is estate planning so important? We can all probably agree that talking about or even thinking about death is something most would like to avoid at any cost. Death is never an easy subject. However, being prepared by having an estate plan can help make one of the most difficult times in your life a little less painful.
So who will decide Bobbi Kristina's fate? Her father or Nick Gordon, her alleged husband? An advance health care directive would have made this situation a lot easier. Bobby Brown, Bobbi Kristina's father, is keeping a vigil beside his daughter as she struggles for her life. A statement by Bobby Brown's attorney recently stated that Bobbi Kristina and Nick Gordon were never actually married, even though, outwardly, there was no reason to suspect that they were not.
Proper estate planning is crucial for every person no matter how big or small your estate is. After news spread of the tragic passing of famed actor Robin Williams, we also learned that Williams planned ahead with a trust for his children. According to TMZ, Williams enacted a trust where each of his three children would receive a third of the trust fund upon reaching a certain age, and it was not dependent on his death. Reportedly, he did this in an effort to not spoil them at a young age.
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Advance Health Care Directives likely would have helped poor Marlise Munoz.
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