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Prenups: Why you need one and pitfalls to avoid!
The Big Bang Theory actress Kaley Cuoco is one of the highest paid actresses on television. She earns one million dollars per episode and has a net worth of $44 million. Before she married tennis star Ryan Sweeting in 2013, Cuoco asked him to sign a prenuptial...
Sonny Bono’s Procrastination in Creating a Will Led to Years of Estate Battles
Sonny Bono, the singer, songwriter, restaurateur, and former Congressman, died in a tragic ski accident in 1998 at the age of 62. His net worth was just under $2 million at the time of his death, yet Bono did not have a will. Apparently, he meant to have one drawn up,...
Dennis Hopper Saves Heirs with Last Minute Estate Plan Changes
Dennis Hopper, known for his role in Easy Rider, wanted to leave his fortune to his family. Well, not everyone in his family. Hopper made numerous estate planning changes in the last months of his life. His goal? To make sure his heirs shared his approximately $40...
Marlon Brando’s Housekeeper and a Tale of Broken Promises
After Legendary Oscar-winning actor Marlon Brando died, his longtime housekeeper, Angela Borlaza, claimed that he had promised to give her a home she claimed he had purchased for her as compensation for her work. She also claimed that he promised her that he would...
3 Mega-Celebrities Who Died Without A Will: Do Not Follow In Their Footsteps!
When you sign a will, you get to decide who gets what (and when and how) after you die. Without a will, state law doles out your belongings according to a set of rules the legislature wrote. (Do you trust your legislature to decide who gets your assets when you die,...
Preparing for the Loss of the Family CEO: Part III
Part III: Implementing the Family Contingency Plan In Part I, I described the problems that people face after the Family CEO dies. In Part II, I suggested creating a family contingency plan to help prepare for the loss of the Family CEO, and concluded with an...
Preparing for the Loss of the Family CEO: Part II
Part II: What to Do About It! In Part I of this 3 part series, I described the problems that people commonly experience after the “Family CEO” dies. Now I want to share some ideas to help prepare for that event. After watching my dad struggle to figure out how to...
Preparing for the Loss of The Family CEO: Part I
Part I: The Problem In the years I have been doing estate planning, I have observed with almost every couple that one of them has taken the lead with paying the bills, handling bank and utility accounts and, in general, managing the family’s financial, legal,...
Financial Elder Abuse Part II – A Coming Crisis
When I came home today, I picked up my October issue of the AARP Bulletin, in which I found an article entitled Money and Memory: A Coming Crisis. (Note that the on-line version substitutes the word “Concern” for “Crisis”. I think the print version got it right!) ...
Financial Firms Roll Out Form Aimed at Stopping Financial Elder Abuse
With cases of financial exploitation of the elderly on the rise, advisors who work with older clients are looking for ways to head off the abuse before it happens. Enter the “Emergency Contact Authorization Form,” a document in which clients can list a trusted person...
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