Estates

Debtor Has No Right to Information About Creditor’s Estate

On April 1, 2011, Norman Webb lent $150,000 to his then son-in-law, Dan Krudys. The loan was for a term of four years and was memorialized by a promissory note executed by Krudys. In the next four years, Norman died, Krudys and Norman’s daughter, Cheryl divorced, Krudys defaulted on the note and Norman’s son, Scott, […]

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Practicing in a Rough Neighborhood: The Trust Hacker Podcast

Over the past year, Bob Mason, a nationally elder law attorney from North Carolina, has created a podcast known as the Trust Hacker.  In these podcasts, Bob interviews attorneys from all over the country regarding issues effecting trusts, estates, elder law and special needs planning.  Recently, I was humbled to be interviewed by him. The […]

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Probate Court Denies Enforcement of Child Support Obligation

A never ending issue facing the court system is the establishment and enforcement of an individual’s obligation to support his or her minor children.  A question which should be diligently explored in this area is the enforcement of that obligation if a parent dies prior to fulfilling all of his or her obligations.  A recent […]

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Let’s Go Crazy – Estate Planning a la Prince

In 1984, Prince released what was arguably his penultimate album – the soundtrack to his semiautobiographical film, Purple Rain.  This classic filled compilation was ignited by its initial track, “Let’s Go Crazy”.  A phenomenal song with a phenomenal title.  Yet it appears it is regrettably the theme for his estate plan – or apparently lack […]

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But I Did Spend Last Night At A Holiday Inn Express

Years ago, there were a series of commercials in which ordinary folks would go into operating rooms to perform surgeries, fly helicopters and ride bulls.  Of course, they would have no training or qualifications.  Yet when asked if they were a doctor or a pilot, etc, they would also respond, “No, but I did spend […]

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Equalize It!

Mike and Carol have three adult daughters – Marcia, Jan and Cindy.  Each of them are married and have children as well.  When both of them die, Mike and Carol want to treat all three daughters equally.  In the event one of their daughters dies before, they want that daughter’s share to pass to that […]

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Who Gets the House?

This week’s article is written by associate attorney and contributing author Douglas M. Nelson, Esq. Frequently, disputes arise between the executors and beneficiaries of an estate concerning the disposition of a deceased individual’s home.  (The content of this blog applies to administrators of intestate estates and trustees of revocable living trusts as well.  However, to […]

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Examining the Estate of Philip Seymour Hoffman

Examining the Estate of Philip Seymour Hoffman

On February 2, 2014, Philip Seymour Hoffman died of a drug overdose at the age of 46.  He was an Academy Award winning actor who appeared in many productions on stage and screen.  He was survived by his life partner, Mimi O’Donnell, and their three children, Cooper (10), Tallulah (7) and Willa (5).  His estate […]

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IRS Provides Portability Relief

IRS Provides Portability Relief

Since the federal estate tax was resurrected on January 1, 2011, the IRS has allowed for the concept of portability as a valuable post-mortem planning tool for married couples.  When an individual dies, his or her estate is exempt from this tax for an amount known as the “applicable exclusion amount.”  This amount is in […]

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Beneficiary Designations

Are your beneficiary designations for life insurance, IRAs, 401(k) plans as you intend them to be?  Are you sure? Query:  If you have designated a beneficiary for a life insurance or an annuity-related asset as “my children in equal shares,” is that truly your intention?  Keep in mind that if that particular designation exists on […]

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