A family office is a wealth management and advisory organization that assumes the daily administration and management of a family’s (or multiple families’) affairs, primarily for high net worth individuals and families with complex financial needs and objectives. Who Needs a Family Office? Families or individuals who require the services of a family office typically […]
A family vacation home is often a place where fond memories are made and where you can truly relax and unwind. But, what happens when it’s time to pass the property to your children and grandchildren? Cynthia Duncan, a shareholder in The Bowden Spratt Law Firm, and Frank Norton Jr., a real estate broker and […]
Estate disputes have the potential to fracture families, friendships, and partnerships. If an agreement cannot be reached amicably, a painful situation may drag on for months or years to come. Fortunately, courtroom litigation is not the only option. Through mediation, all parties have the potential to find a peaceful resolution while saving time, money, energy, […]
One year after “Queen of Soul” Aretha Franklin’s death, the later singer’s estate remains mired in uncertainty. Franklin reportedly left three handwritten wills, one of which was discovered in a sofa months after her death. A handwriting expert is now examining those wills to verify their authenticity. Recent court filings also reveal that Franklin did […]
It is a given that, unless you disclose your estate plan to your family before you die, you will not know the impact your decisions can have on those you leave behind. Many people do not realize that providing for uneven distributions from your estate or trust among their children can stir jealously and […]
The teenage son of actress and model Elizabeth Hurley stands to inherit millions after a court ruling over his late paternal grandfather’s will. Damian Charles Hurley, 17, is the son of Hurley and multi-millionaire businessman Steve Bing. Hurley and Bing never married and split up not long after their son was born. A judge has […]
People tend to want to avoid court at all costs. Probate court is usually viewed more favorably than other court proceedings because probate court does not invoke thoughts of winners and losers. But probate court can still be very stressful, not least because it follows the death of a loved one. Probate is the court-monitored […]
People use many different terms to describe the various types of trusts. Other posts have discussed the differences between revocable and irrevocable trusts. Another way to characterize trusts is as “discretionary.” Discretionary trusts can be revocable or irrevocable. The term discretionary simply refers to the manner in which assets can be distributed. Discretionary Trust 101 […]
The decision to plan a trust can be an overwhelming one. Most people do not know where to begin. Researching the topic may prove unhelpful if they cannot decipher unfamiliar legal terms. One of the most basic distinctions among trusts is whether the trust is revocable or irrevocable. What is the Difference Between a Revocable […]
A sudden death can reveal a rift in families. It becomes even more complicated in the cases of blended families. Stepchildren may sometimes feel like the surviving parent is bleeding the estate dry and leave them out in the cold. There is often conflict and confusion in murky matters like this. Each side accuses the […]
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