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Sinead O’Connor

Did Sinéad O’Connor Have an Estate Plan?

POSTED ON: September 1, 2023 BY: Kyle Krull
Sinéad O’Connor was likely prepared for her death. Many celebrities act as if they can cheat death. Even if they do not believe they are untouchable, they fail to prepare for their eventual demise. There is an interesting irony in this fact, considering how many celebrities have died suddenly from drugs, plane crashes, or unknown […]
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Portability

Should Blended Families Elect Portability?

POSTED ON: July 21, 2023 BY: Kyle Krull
Portability elections may not be the best for all families. The federal estate and gift tax exemption is necessary for those with high net worth. Any amount over this threshold is subject to estate taxes. The "unified" exemption is $12.92 million per taxpayer for 2023. Individuals and couples can work with an experienced estate planning […]
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Estate taxes

Can Heirs Be Responsible for Estate Taxes?

POSTED ON: July 20, 2023 BY: Kyle Krull
Heirs may be responsible for estate taxes. Not all estates will require payments of estate taxes. It is dependent on a number of factors, including the size of the estate and the specifics of the estate plan. Those who have assets valued in excess of the federal estate exemption threshold and those who live in […]
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Probate judges

What Do Probate Judges Do Exactly?

POSTED ON: July 17, 2023 BY: Kyle Krull
The role of probate judges is to oversee estate administration. Generally speaking, judges are responsible for upholding the local and federal laws in the courts. In some cases, this involves deciding on appropriate discipline for criminal actions. In other cases, judges must oversee the execution of legal documents for business arrangements or estate plans. According […]
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Tina Turner

Who Will Inherit from Tina Turner?

POSTED ON: June 23, 2023 BY: Kyle Krull
Tina Turner left a musical legacy and a large estate. Although celebrities often seem larger-than-life, they are not immune from challenges in life. In the end, they are simply human. Some die tragically alone. Others pass away knowing the care and commitment of loved ones. According to a recent Yahoo News article titled “Tina Turner’s husband […]
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Per stirpes

What Does “Per Stirpes” Mean?

POSTED ON: May 18, 2023 BY: Kyle Krull
“Per stirpes” is a designation for passing assets to heirs. Legal jargon can involve a lot of Latin and also be confusing. Legal jargon also has real implications for the lives of Americans. It is present in government statutes, business contracts, and estate planning. According to a recent Motley Fool article titled “What Does Per […]
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Aretha Franklin

Why Did Aretha Franklin Leave a Voicemail?

POSTED ON: May 18, 2023 BY: Kyle Krull
Aretha Franklin left a voicemail for her attorney in the months preceding her death. Estate planning is essential because it allows people to communicate their wishes regarding what happens to their assets when they die. To be legally binding, estate planning documents must be prepared and signed according to specific rules. Simply stating wishes to […]
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Pension

Do I Need Life Insurance With my Pension?

POSTED ON: May 5, 2023 BY: Kyle Krull
Some pension options are better than others. True, the amount of money a person makes is important. However, it is also important how this money is handled. Depending on your choices, you may either increase or decrease the funds available. According to a recent Kiplinger article titled “Pension Lump Sum Option vs. Annuity Payment: Which Is […]
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Guidance

Is All Estate Guidance Legally Binding?

POSTED ON: April 20, 2023 BY: Kyle Krull
Guidance in an estate plan does not have to be legally binding. So sometimes, being imprecise is not a big deal. For example, recipes often say “salt and pepper to taste,” giving the cook room for personal preference. Other times, it can lead to incorrect results, like adding too much baking soda or baking powder […]
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Secrecy

Is Secrecy Wise in Estate Planning?

POSTED ON: March 21, 2023 BY: Kyle Krull
Secrecy is not the best policy when it comes to estate planning. Secrets are generally considered problematic for relationships. Exceptions include surprise parties and confidentiality within a therapeutic relationship or the attorney-client privilege. Typically, estate planning is not one of these exceptions. According to a recent Financial Advisor article titled “Family Wealth Transfers Undermined by Secrecy,” it […]
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