Monday, August 27, 2018
Thursday, August 23, 2018
Aretha Franklin Didn’t Have an Estate Plan
How sad… Aretha Franklin passed away without a Will or a Trust. This opens her entire estate to public scrutiny and family fighting over her assets.
“I was after her for a number of years to do a trust,” Los Angeles attorney Don Wilson told the paper. “It would have expedited things and kept them out of probate and kept things private.”
“Franklin’s lawyer has represented her in entertainment matters for nearly three decades, and told the paper that he constantly asked her to do a trust, but she never got around to it.”
“I just hope (Franklin’s estate) doesn’t end up getting so hotly contested,” Wilson said. “Any time they don’t leave a trust or will, there always ends up being a fight.”
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Sunday, August 19, 2018
Did you?
Many of the people I talk to don’t realize the State has already written an estate plan for them.
Did you?
The state has already decided who gets how much of your stuff. But, the State didn’t say who gets exactly what, just how much. This invites family fighting over your goods. And, the State doesn’t put a time limit on how long the process will take, and it may take a year or more. That’s a year or more of hearings, motions, petitions, and more. That’s a year or more that money and assets can be tied up waiting for the process to finish.
Many people don’t realize they don’t have the legal right to make their spouse’s legal, financial, and healthcare decisions.
Did you?
The State has already decided how somebody can apply to manage your legal, financial, and healthcare decisions when you can’t. Yes, they must apply, via a petition to the court. Then they have to appear in court to finish the process. Even if it’s an emergency, they still have to go through the process. Then, the power they have is limited. They must ask the Judge to do certain things for you.
You can stop all of this by writing your own plan!
In a Law Will and Testament or Trust, you get to decide who gets what. With a Trust, you can choose when.
With a Durable Power of Attorney, Power of Attorney for Healthcare, and Living Will you choose who will take care of you when you can’t.
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